Capital budgeting criteria A firm with a 13% WACC is evaluatingtwo projects for this year's capital budget. After-tax cash flows,including depreciation, are as follows: 0 1 2 3 4 5 Project M-$15,000 $5,000 $5,000 $5,000 $5,000 $5,000 Project N -$45,000$14,000 $14,000 $14,000 $14,000 $14,000 Calculate NPV for eachproject. Round your answers to the nearest cent. Do not round yourintermediate calculations. Project M $ Project N $ Calculate IRRfor each project. Round your answers to two decimal places. Do notround your intermediate calculations. Project M % Project N %Calculate MIRR for each project. Round your answers to two decimalplaces. Do not round your intermediate calculations. Project M %Project N % Calculate payback for each project. Round your answersto two decimal places. Do not round your intermediate calculations.Project M years Project N years Calculate discounted payback foreach project. Round your answers to two decimal places. Do notround your intermediate calculations. Project M years Project Nyears Assuming the projects are independent, which one(s) would yourecommend? If the projects are mutually exclusive, which would yourecommend? Notice that the projects have the same cash flow timingpattern. Why is there a conflict between NPV and IRR?