4. Kerron Company is presented with the following two mutually exclusive projects. The required return for both projects is 19 percent.

Year Project M Project N

0 –$136,000 –$369,000

1 64,900 145,500

2 82,900 194,000

3 73,900 130,500

4 59,900 124,000

Required:

(a)

What is the IRR for each project? (Do not round intermediate calculations. Enter your answers 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?

Select one: Project N, Project M, Both, Neither