Suppose you wish to compute the Internal Rate of Return (IRR) to evaluate an investment project. In using the iterative approach, a candidate IRR that yields a positive NPV should be adjusted upward on the next try.

True

False

CDP Sport, Inc., is trying to evaluate a project with the following cash flows:

Year 0: -2,047, Year 1: 1,295, Year 2: -1,632

What is the NPV for the project if the company requires a return of 9.55 percent? Report your answer with 2-digit precision (ex. 12.34).