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

Year Cash Flow 0 $ 39,200,000 1 63,200,000 2 12,200,000

a-1

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 $

a-2 Should the firm accept this project?

Yes No

b.

This project has two IRRs, namely percent and percent, in order from smallest to largest. (Note: If you can only compute one IRR value, you should input that amount into both answer boxes in order to obtain some credit.) (A negative answer should be indicated by a minus sign. Do not round intermediate calculations and enter your answers as a percent rounded to 2 decimal places, e.g., 32.16.)