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 $(52,110) Operation Year 1 21,000 Year 2 26,000 Year 3 19,000 Salvage 0 a. Using a discount rate of 10 percent, determine the net present value of the investment proposal. $Answer 2,743 b. Determine the proposal's internal rate of return. (Refer to Appendix 24B 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%) Answer %