Internal rate of return and modified internal rate of return. Quark Industries has three potential projects, all with an initial cost of $1,600,000. 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
Year 1 $400,000 $500,000 $900,000
Year 2 $400,000 $500,000 $700,000
Year 3 $400,000 $500,000 $500,000
Year 4 $400,000 $500,000 $300,000
Year 5 $400,000 $500,000 $100,000
Discount rate 8% 12% 17%