The size of the physical address space of a processor is \(2^{32}\) bytes. The capacity of a cache memory unit is \(2^{23}\) bytes. The cache block size is 128 bytes. The cache memory unit can be built as a direct mapped cache or as a \(K\)-way set-associative cache, where \(K = 2^{L}\) and \(L \in \{1,2,3\}\). Let the length of the TAG field be \(M\) bits for the direct mapped cache, and \(N\) bits for the set-associative cache.
Which one of the following options is true?