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Reece Company is presented with the following two mutually exclusive projects. The required return for both projects is 13 percent. Year Project M Project N

Reece Company is presented with the following two mutually exclusive projects. The required return for both projects is 13 percent.

Year Project M Project N
0 $ 135,000 $ 370,000
1 65,000 145,000
2 83,000 195,000
3 74,000 130,000
4 60,000 125,000

a. What is the IRR for each project? (Do not round intermediate calculations and enter your answers as a percent 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 and 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?

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