\begin{tabular}{|l|c|c|c|} \hline Cash Flow & Project M & Project N & Project O \\ \hline Year 1 & $600,000 & $800,000 & $1,300,000 \\ \hline Year 2 & $600,000 & $800,000 & $1,100,000 \\ \hline Year 3 & $600,000 & $800,000 & $900,000 \\ \hline Year 4 & $600,000 & $800,000 & $700,000 \\ \hline Year 5 & $600,000 & $800,000 & $500,000 \\ \hline Discount rate & 8% & 14% & 16% \\ \hline \end{tabular} Internal rate of return and modified internal rate of return. Quark Industries has three potential projects, all with an initial cost of $2,400,000. Given the discount rate and the future cash flow of each project in the following table, , what are the IRRs and MIRRs of the three projects for Quark Industries? What is the IRR for project M ? % (Round to two decimal places.)