Problem 8-16 NPV and IRR (LO 3, 4) Bausch Company is presented with the following two mutually exclusive projects. The required return for both projects is 15 percent. Year Project M -$140,000 Project N -$359,000 WN- 61,500 73,400 68,100 40,500 159,300 168,400 154,800 110,400 a. What is the IRR for each project? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) b. What is the NPV for each project? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) c. Which, if either, of the projects should the company accept? Project M Project N b. Project M Project N c. Project acceptance