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	$(39,330)
Operation
Year 1	13,000
Year 2	23,000
Year 3	15,000
Salvage	0

a. Using a discount rate of 10 percent, determine the net present value of the investment proposal.

Note: Round your answer to the nearest whole dollar.

$Answer

b. Determine the proposal's internal rate of return. (Refer to Appendix 12B 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%