Problem 8-16 NPV and IRR [LO 3, 4] Kerron Company is presented with the following two mutually exclusive projects. The required return for both projects is 15 percent Year 0 1 2 Project M $125,000 57.000 64.000 59,000 34.000 Project N $310,000 135,000 161,000 129,000 92,000 Required: (a) What is the IRR for each project? (Do not round intermediate calculations. Enter your answer 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? (Click to select)