Dynamic and condenser mic on M-track simultaneously

Hi, I'd like to record 2 mic tracks at the same time with a M-track. One of them is a condenser mic so I'll need to engage the phantom power so it can work properly but if I do that I won't be able to use the dynamic mic in the other xlr connection.
Mi question is, can I plug a dynamic mic to the 1/4" inch input using an adaptor to skip the phantom power on the other channel? will it give me proper level?

Thank you.
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