25-20. NPV and IRR: Unequal Annual Net Cash Inflows Assume that Goodrich Petroleum Corporation is evaluating a capital expenditure proposal that has the following predicted cash flows: Initial investment. Operation Year 1 Year 2 Year 3 Salvage.. Required $(160,000) 42,000 95,000 65,000 0 a. Using a discount rate of 10%, determine the net present value of the investment proposal. b. Determine the proposal's internal rate of return. (Refer to Appendix 25B if you use the table ap- proach.) Hint: You will need to use a trial-and-error approach