NPV and IRR. Higher Ground Company is presented with the following two mutually exclusive projects. The required return for both projects is 15 percent. Year Project M Project N 0 $1 45,000 $350,000 1 63,000 1 55,000 2 81 ,000 1 75,000 3 72,000 1 40,000 4 58,000 1 05,000 a. What is the IRR for each project? b. What is the NPV for each project? c. Which, if either, of the projects should the company accept