Kerron 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	$141,000	$354,000
1	63,400	153,000
2	81,400	179,000
3	72,400	138,000
4	58,400	109,000

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

	IRR
Project M	%
Project N	%

(b)	What is the NPV for each project? (Do not round intermediate calculations. Round your answers to 2 decimal places (e.g., 32.16).)

	NPV
Project M	$
Project N	$

(c)	Which, if either, of the projects should the company accept?