Create a Monte Carlo simulation for the project with at least 500 iterations of the calculation. Calculate the IRR for each iteration. NOTE: The IRR function in Excel will return an error if the IRR of the project is too low. For example, what is the IRR if both the initial cash flow and the operating cash flows are negative? The IRR is less than -100 percent. This is not a problem when you are calculating the IRR one time since you can see the IRR is too low, but when you are running 500 or more iterations it can create a problem trying to summarize the results. Because of this, you should create an IF statement that tests if the operating cash flow divided by the absolute value of the initial investment is less than 0.1. If this is the case, the cell will return an IRR of -49.99 percent, else the cell will calculate the IRR.