Click here to read the eBook: Net Present Value (NPV) Click here to read the eBook: Internal Rate of Return (IRR) Click here to read the eBook: Modified Internal Rate of Return (MIRR) Click here to read the eBook: Payback Period CAPITAL BUDGETING CRITERIA 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: 2 4 Project M $21,000 $7,000 $7,000 $7,000 $7,000 $7,000 Project N -$63,000 $19,600 $19,600 $19,600 $19,600 $19,600 a. Calculate NPV for each project. Round your answers to the nearest cent. Do not round your intermediate calculations Project M $3031.57 Project N $4288.39 Calculate IRR for each project. Round your answers to two decimal places. Do not round your intermediate calculations Project M Project N Calculate MIRR for each project. Round your answers to two decimal places. Do not round your intermediate calculation:s Project M Project N Calculate payback for each project. Round your answers to two decimal places. Do not round your intermediate calculations Project M Project N Calculate discounted payback for each project. Round your answers to two decimal places. Do not round your intermediate calculations Project M Project N 19.86 16.80 years years years years b. Assuming the projects are independent, which one(s) would you recommend? -Select- c. If the projects are mutually exclusive, which would you recommend? Select- d. Notice that the projects have the same cash flow timing pattern. Why is there a conflict between NPV and IRR? -Select