Question: A firm with a 14% WACC is evaluating two projects for this year's capital budget. After-tax cash flows, including depreciation, are as follows: Project M

A firm with a 14% WACC is evaluating two projects for this year's capital budget. After-tax cash flows, including depreciation, are as follows:

Project M -$6,000 $2,000 $2,000 $2,000 $2,000 $2,000
Project N -$18,000 $5,600 $5,600 $5,600 $5,600 $5,600

Calculate discounted payback for each project. Do not round intermediate calculations. Round your answers to two decimal places.

Project M: years

Project N: years

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