Comparing Investments Using Internal Rate
Of Return And Net Present Value 		 
       
  Investment 1 Investment 2  
Life in years
Initial investment outlay  
Annual net after-tax cash flows  
IRR  
   
       
PV  
NPV  
   
       
       
  Assumptions    
Rate    
       
       
Example from "Cost Accounting", page 724      
by Charles T. Horngren and George Foster      
Prentice-Hall 1991      

Automatic recalculation