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%