A firm is evaluating two capital projects, Project M and Project N, to determine which to undertake. It is provided the projects' after-tax cash flows and a 14% WACC. It must calculate various metrics for each project, including NPV, IRR, MIRR, payback period, and discounted payback period, and determine which project(s) to recommend based on the projects being independent or mutually exclusive. The document notes that a conflict can arise between NPV and IRR when projects have the same cash flow timing patterns.