XNPV Correct Formula?

When backing into an XNPV with irregular cash flows, whether that be monthly, daily, etc. what is the proper format to use?


I realize w/ regular annualized NPV, the correct format is NPV(rate, Y1-YX values)+Y0 value.  With an XNPV, do you still use that same format?  XNPV(rate, Y1-YX values)+Y0 value?  I ask because in the following image as posted by another user, they assumed the formula to not include +Y0, as is best practice that I've seen for regular NPV.

https://www.wallstreetoasis.com/files/styles/w800…

Can someone please confirm the above is incorrect?

Thanks

 

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