Howell Petroleum Inc is trying to evaluate a generation project with the following cash flows:

Year Cash Flow

0 -39,000,000

1 57,000,000

2 -9,000,000

a) If the company requires a return of 10% on its investments, should it accept this project? Why?

b) Compute the IRR for this project. How many IRR's are there? If you apply the IRR decision rule, should you accept the project or not? Whats going on here?

I'd like to solve this problem in excel.

Thank you!