Internal rate of return and modified internal rate of return. Quark Industries has three potential projects, all with an initial cost of $2,300,000. Given the discournt rate and the future cash flow of each project, what are the IRRs and MIRRs of the three projects for Quark Industries? Cash Flow Year 1 Year 2 Year 3 Year 4 Year 5 Discount rate Project M $600,000 $600,000 $600,000 $600,000 $600,000 6% Project $800,000 $800,000 $800,000 $800,000 $800,000 Project O $1,200,000 $1,000,000 $800,000 $600,000 $400,000 16% 12% What is the IRR for project M? % (Round to two decimal places.)