7. Reece Company is presented with the following two mutually exclusive projects. The required return for both projects is 15 percent. For each project, please find IRR, NPV and PI. Which project should the company accept? Year Project M Project N 0 -150,000 -372,000 1 68,600 159,300 2 76,800 193,200 3 71,300 154,800 4 40,500 110,400