Problem 510 Problems With IRR Suppose You Are Offered $9,500 Today But Must Make The Following Payments: Year Cash Flows ($) 0 $ 9,500 1 −4,900 2 −3,600 3 −2,700 4 −2,000 D1. What Is The NPV Of The Offe. Problem 510 Problems with IRR
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Suppose you are offered $9,500 today but must make the following payments: 
Year  Cash Flows ($) 
0  $ 9,500 
1  −4,900 
2  −3,600 
3  −2,700 
4  −2,000 
d1.  What is the NPV of the offer if the appropriate discount rate is 12 percent? (Negative amount should be indicated by a minus sign. Do not round intermediate calculations and round your answer to 2 decimal places. (e.g., 32.16)) 
NPV  $ [removed] 
d2.  What is the NPV of the offer if the appropriate discount rate is 22 percent? (Negative amount should be indicated by a minus sign. Do not round intermediate calculations and round your answer to 2 decimal places. (e.g., 32.16)) 
NPV  $ [removed] 
Please note I am trying to do these in Excel using the NPV
Formula NPV=(rate,cash flows)+ initial investment.
I have tried to calculate using 9500 and +9500 and the homework application tells me it’s wrong.
Problem 514 Comparing Investment Criteria
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Mario Brothers, a game manufacturer, has a new idea for an adventure game. It can market the game either as a traditional board game or as an interactive DVD, but not both. Consider the following cash flows of the two mutually exclusive projects for Mario Brothers. Assume the discount rate for Mario Brothers is 8 percent. 
Year  Board Game  DVD  
0  –$  1,750  –$  3,800  
1  800  2,300  
2  1,500  1,680  
3  320  1,350  

a.  What is the payback period for each project? (Do not round intermediate calculations and round your final answers to 2 decimal places. (e.g., 32.16)) 
Payback period  
Board game  [removed] 
DVD  [removed] 

I do not understand how to calculate a partial year payback result.
b.  What is the NPV for each project? (Do not round intermediate calculations and round your final answers to 2 decimal places. (e.g., 32.16)) 
NPV  
Board game  $ [removed] 
DVD  $ [removed] 
