We're gonna establish which of the following investments we'd undertake. And we've got two very different investments here. The first one is a, a short term small real estate investment. And initially we're gonna look at the IRR of that investment and grab each of the cash flows and use Excels IRR function. We've come out to 32%. That looks pretty good in comparison to the 8% overall cost of financing. Let's use the NPV function. First we're gonna do is feed in the 8% cost of financing. Then we're gonna go and grab all of the cash flows starting in year one, not forgetting to also take account of the year zero cash cashflow comes out at 17.2. Sounds pretty good. So let's go and have a look at investment two, which is a large private equity deal, exactly the same analysis, um, as we'd undertaken previously. So I'm gonna go and grab those formulas we generated and paste those in. We can now see that the IRR on this much larger investment is only 16%, but of course it's got a much bigger NPV because in absolute terms it's a much bigger investment. And if we said, well, let's focus on IRR, then we'd need to find something to do with the remaining 490 of investment that I've got available in year zero. So the conclusion here is that perhaps IRI is not brilliant for investment appraisal if you've got projects of very different sizes.