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Cash Flow	Project M		Project N		Project O
Year 1	$500,000		$600,000		$1,000,000
Year 2	$500,000		$600,000		$800,000
Year 3	$500,000		$600,000		$600,000
Year 4	$500,000		$600,000		$400,000
Year 5	$500,000		$600,000		$200,000
Discount rate	7%		13%		16%

Internal rate of return and modified internal rate of

return.

Quark Industries has three potential projects, all with an initial cost of

$1,900,000.

Given the discount rate and the future cash flow of each project in the following table,

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, what are the IRRs and MIRRs of the three projects for Quark Industries?

What is the IRR for project M?

nothing%

(Round to two decimal places.)

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