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 ows: Initial Investment $(160,000) Operation Year 1 42,000 Year 2 95,000 Year 3 65,000 Salvage 0 a. Using a discount rate of 10%, determine the net present value of the investment proposal. $ at b. Determine the proposal's internal rate of return. (Refer to Appendix 248 if you use the table approach.) Hint: You will need to use a trial-and-error approach. Round to the nearest percent. (Example: 0.15268 = 15%). 3%