Question: A construction company is bidding for two projects, Project M and Project N. Project M requires an investment of $600,000 and is expected to generate

A construction company is bidding for two projects, Project M and Project N. Project M requires an investment of $600,000 and is expected to generate annual profits of $100,000 for 5 years. Project N requires an investment of $800,000 and is expected to generate annual profits of $150,000 for 7 years. If the company's required rate of return is 15%, which project should it choose based on the Net Present Value (NPV) criterion?

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