Problem 5-13. Problems with IRR 1.

Howell Petroleum, Inc., is trying to evaluate a generation project with the following cash flows:

Year   Cash Flow

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0       – $39,200,000

1       – 3,200,000

2      – 12,200,000

What is the NPV for the project if the company requires a return of 11 percent? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g, 32.16.) 

NPV – ?

2. Should the firm accept this project?

No or Yes

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