Kerron Company is presented with the following two mutually exclusive projects. The required return for both projects is 16 percent.

Year	Project M	Project N
0	$139,000	$366,000
1	64,600	147,000
2	82,600	191,000
3	73,600	132,000
4	59,600	121,000

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

$

Dahlia Manufacturing has the following two possible projects. The required return is 10 percent.

Year	Project Y	Project Z
0	$27,900	$59,000
1	13,900	17,500
2	12,300	30,000
3	14,700	15,500
4	10,300	28,000

Required:
(a)	What is the profitability index for each project? (Do not round intermediate calculations. Round your answers to 3 decimal places (e.g., 32.161).)

	Profitability index
Project Y
Project Z

(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 Y

$

Project Z

$

Ashwood Corp. has a project with the following cash flows:

Year	Cash Flow
0		$	36,400
1			25,600
2			30,400

Required:

What is the IRR of the project? (Do not round intermediate calculations. Enter your answer as a percentage. If there is no real IRR, enter '0'.)

Internal rate of return

%