I need a full understanding of how to solve for IRR through excel. Not just the answers please.

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Hamilton Company is considering two capital investments. Both investments have an initial cost of $7,000,000 and total net cash inflows of $16,000,000 over 10 years. Hamilton requires a 20% rate of return on this type of investment. Expected net cash inflows are as follows: (Click the icon to view the expected net cash inflows.) Read the requirements. Data table Year Plan Alpha Requirement 1. Use Excel to compute the NPV and IRR of the two pl decimal places, X.XX%.) Year 1 $ 1,600,000 $ Plan Beta 1,600,000 the Year 2 1,600,000 2,200,000 The NPV (net present value) of Plan Alpha is $(292,045) Year 3 1,600,000 2,800,000 Year 4 1,600,000 2,200,000 The NPV (net present value) of Plan Beta is The IRR (internal rate of return) of Plan Alpha is $ 610,051 Year 5 1,600,000 1,600,000 Year 6 1,600,000 1,500,000 %. Year 7 1,600,000 1,300,000 Year 8 1,600,000 1,100,000 The IRR (internal rate of return) of Plan Beta is %. Year 9 1,600,000 1,600,000 900,000 800,000 Year 10 $ 16,000,000 $ 16,000,000 Total Print Done Requirements 1. Use Excel to compute the NPV and IRR of the two plans. Which plan, if any, should the company pursue? 2. Explain the relationship between NPV and IRR. Based on this relationship and the company's required rate of return, are your answers as expected in Requirement 1? Why or why not? 3. After further negotiating, the company can now invest with an initial cost of $6,500,000 for both plans. Recalculate the NPV and IRR. Which plan, if any, should the company pursue? Print Done IRR calculations to two Hamilton Company is considering two capital investments. Both investments have an initial cost of $7,000,000 and total net cash inflows of $16,000,000 over 10 years. Hamilton requires a 20% rate of return on this type of investment. Expected net cash inflows are as follows: (Click the icon to view the expected net cash inflows.) Read the requirements. Data table Year Plan Alpha Requirement 1. Use Excel to compute the NPV and IRR of the two pl decimal places, X.XX%.) Year 1 $ 1,600,000 $ Plan Beta 1,600,000 the Year 2 1,600,000 2,200,000 The NPV (net present value) of Plan Alpha is $(292,045) Year 3 1,600,000 2,800,000 Year 4 1,600,000 2,200,000 The NPV (net present value) of Plan Beta is The IRR (internal rate of return) of Plan Alpha is $ 610,051 Year 5 1,600,000 1,600,000 Year 6 1,600,000 1,500,000 %. Year 7 1,600,000 1,300,000 Year 8 1,600,000 1,100,000 The IRR (internal rate of return) of Plan Beta is %. Year 9 1,600,000 1,600,000 900,000 800,000 Year 10 $ 16,000,000 $ 16,000,000 Total Print Done Requirements 1. Use Excel to compute the NPV and IRR of the two plans. Which plan, if any, should the company pursue? 2. Explain the relationship between NPV and IRR. Based on this relationship and the company's required rate of return, are your answers as expected in Requirement 1? Why or why not? 3. After further negotiating, the company can now invest with an initial cost of $6,500,000 for both plans. Recalculate the NPV and IRR. Which plan, if any, should the company pursue? Print Done IRR calculations to two