L02, 8 Petroleum orporation (GDP) 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: E12-20. Initial in Operation $(45,880) 15,000 25,000 20,000 Chapter 12 Capital Budgeting Decisions 477 Required a. Using a discount rate of 10 percent, determine the net present value of the investment proposal b. Determine the proposal's internal rate of return. (Refer to Appendix 12B if you use the table approach.)