Problem $8-16$ NPV and IRR $[$LO $3,4]$

Marissa Manufacturing is presented with the following two mutually exclusive projects. The required return for both projects is $13$ percent.

Year Project M Project N

$0$$ $135,000$$ $370,000$

$165,000145,000$

$283,000195,000$

$374,000130,000$

$460,000125,000$

What is the IRR for each project?

Note: Do not round intermediate calculations and enter your answers as a percent rounded to $2$ decimal places, e$.$g$.,32\mathrm{.}16.$

What is the NPV for each project?

Note: Do not round intermediate calculations and round your answers to $2$ decimal places, e$.$g$.,32\mathrm{.}16.$

Which, if either, of the projects should the company accept?