Can anyone help me figure out how to calculate the Internal Rate of Return using Excel using the information in the attached spreadsheet? I am not looking for just the answer, I would like to understand how to find the information.

Frank Smith Plumbing Data Needed for analysis: Year-1 Year-2 Year-3 Project Cost of Capital (borrowing) 12.00% Cost of Truck $200,000 Cost of additional equiment attached to truck $15,000 Tax rate 35% Annual Before Tax & Depreciation Truck Projected Earnings Year-4 Year-5 Year-6 Year-7 Year-8 $60,000 $55,000 $50,000 $40,000 $30,000 Depreciation Percentage Rate (MACRS)* 20.0% 32.0% 19.2% 11.5% 11.5% 5.8% * The proposed truck has an estimated economic life of seven years but will be treated as a five-year MACRS property for depreciation purposes. 0.0% 0.0% $70,000 $70,000 $65,000 Calculate the following -- light yellow highlighted cells need to be completed Year-0 Annual Before Tax & Depreciation Truck Projected Earnings Depreciation Expense Annual Before Tax Truck Projected Earnings Tax Annual Projected Truck Earnings Depreciation to add back Year-1 Year-2 Year-3 Year-4 Year-5 Year-6 Year-7 Year-8 $70,000.00 $70,000.00 $65,000.00 $60,000.00 $55,000.00 $50,000.00 $40,000.00 $30,000.00 $ 43,000.00 $ 68,800.00 $ 41,280.00 $ 24,725.00 $ 24,725.00 $ 12,470.00 $ $ 27,000.00 1,200.00 23,720.00 35,275.00 30,275.00 37,530.00 40,000.00 30,000.00 9,450.00 420.00 8,302.00 12,346.25 10,596.25 13,135.50 14,000.00 10,500.00 $17,550.00 $780.00 $15,418.00 $22,928.75 $19,678.75 $24,394.50 $26,000.00 $19,500.00 43,000.00 Projected Truck Net Cash Flow -$215,000.00 68,800.00 41,280.00 24,725.00 24,725.00 12,470.00 0.00 0.00 $60,550.00 $69,580.00 $56,698.00 $47,653.75 $44,403.75 $36,864.50 $26,000.00 $19,500.00 $54,062.50 $62,125.00 $56,698.00 Recommendations: $47,653.75 $44,403.75 $32,914.73 $26,000.00 $19,500.00 Decision Criteria: Pay Back Period Discounted Pay Back Period (DPB)** Net Present Value Internal Rate of Return Profitability Index Discounted Cash Flow Needed for DPB Calc. 8 Years 3 Years $28,681.97 $ 1.13