NPV and IRR. Reece Company is presented with the following two mutually exclusive projects. The required return for both projects is 15 percent. Year Project M Project N -$150,000 -$372,000 68,600 159,300 193,200 154,800 2 76,800 71,300 110,400 &se40,500 What is the IRR for each project? a. What is the NPV for each project? b. Which, if either, of the projects should the company accept? C. O-23