Bausch Company is presented with the following two mutually exclusive projects. The required return for both projects is 18 percent.

Year Project M Project N

0 -$144,000 -$361,000

1 64,100 149,500

2 82,100 186,000

3 73,100 134,500

4 59,100 116,000

a.What is the IRR for each project?(Do not round intermediate calculations and enter your answers as a percent rounded to 2 decimal places, e.g., 32.16.)

b.What is the NPV for each project?(Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.)c.Which, if either, of the projects should the company accept?

a. Project M%

Project N%

b. Project M

Project N

c. Accept Project