Please do IRR's and MRR's. Also, please explain how you found them in a way that allows conceptual understanding to do the problem.

P9-13 (similar to) Question Help Internal rate of return and modified internal rate of return Quark Industries has three potential projects, all with an initial cost of $2,400,000. Given the discount rate and the future cash flow of each project, what are the IRRS and MIRRS of the three projects for Quark Industries? Cash Flow Project M Project N Project O $600,000 $800,000 $1,300,000 Year $600,000 $800,000 $1,100,000 Year 2 Year 3 $600,000 $800,000 $900,000 $600,000 $800,000 $700,000 Year 4 Year 5 $600,000 $800,000 $500,000 Discount rate 7% 11% 18%