NPV and IRR: Unequal Annual Net Cash Inflows Rocky Road Company is evaluating a capital expenditure proposal that has the following predicted cash flows: (a) Using a discount rate of 12%, 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.) Hint: You will need to use a trial-and-error approach. (Round to the nearest whole percentage.) %