IRR error

[dviper]

Why does the IRR calculate an error with these cash flows?

IRR Test.xlsx
	A	B	C
6	IRR	#DIV/0!
7	Month 1	(1,094,364)	#NUM!
8	Month 2	(844,364)	#NUM!
9	Month 3	(24,926,864)	#NUM!
10	Month 4	(844,364)	#NUM!
11	Month 5	(2,850,118)	#NUM!
12	Month 6	(3,578,703)	#NUM!
13	Month 7	(3,043,835)	#NUM!
14	Month 8	(3,043,835)	#NUM!
15	Month 9	(3,043,835)	#NUM!
16	Month 10	(3,043,835)	#NUM!
17	Month 11	(3,043,835)	#NUM!
18	Month 12	(3,043,835)	#NUM!
19	Month 13	(3,043,835)	#NUM!
20	Month 14	(3,043,835)	#NUM!
21	Month 15	(3,043,835)	#NUM!
22	Month 16	(3,043,835)	#NUM!
23	Month 17	(3,043,835)	#NUM!
24	Month 18	(3,043,835)	#NUM!
25	Month 19	(3,043,835)	#NUM!
26	Month 20	(3,043,835)	#NUM!
27	Month 21	(15,625)	#NUM!
28	Month 22	(15,625)	#NUM!
29	Month 23	(15,625)	#NUM!
30	Month 24	(15,625)	#NUM!
31	Month 25	(6,432,292)	#NUM!
32	Month 26	(884,023)	#NUM!
33	Month 27	182,763	#NUM!
34	Month 28	182,763	#NUM!
35	Month 29	182,763	#NUM!
36	Month 30	182,763	#NUM!
37	Month 31	(14,784,142)	#NUM!
38	Month 32	123,200,823	15.26%
39	Month 33	-	15.26%
40	Month 34	-	15.26%
41	Month 35	-	15.26%
42	Month 36	-	15.26%
43	Month 37	-	15.26%
44	Month 38	-	15.26%
45	Month 39	-	15.26%
46	Month 40	-	15.26%
47	Month 41	-	15.26%
48	Month 42	-	15.26%
49	Month 43	-	15.26%
50	Month 44	-	15.26%
51	Month 45	-	15.26%
52	Month 46	-	15.26%
53	Month 47	-	15.26%
54	Month 48	-	15.26%
55	Month 49	-	15.26%
56	Month 50	-	15.26%
57	Month 51	-	15.26%
58	Month 52	-	15.26%
59	Month 53	-	15.26%
60	Month 54	-	15.26%
61	Month 55	-	15.26%
62	Month 56	-	15.26%
63	Month 57	-	15.26%
64	Month 58	-	15.26%
65	Month 59	-	15.26%
66	Month 60	-	15.26%
67	Month 61	-	15.26%
68	Month 62	-	15.26%
69	Month 63	-	15.26%
70	Month 64	-	15.26%
71	Month 65	-	15.26%
72	Month 66	-	15.26%
73	Month 67	-	15.26%
74	Month 68	-	15.26%
75	Month 69	-	15.26%
76	Month 70	-	15.26%
77	Month 71	-	15.26%
78	Month 72	-	15.26%
79	Month 73	-	15.26%
80	Month 74	-	15.26%
81	Month 75	-	15.26%
82	Month 76	-	15.26%
83	Month 77	-	15.26%
84	Month 78	-	15.26%
85	Month 79	-	15.26%
86	Month 80	-	15.26%
87	Month 81	-	15.26%
88	Month 82	-	15.26%
89	Month 83	-	15.26%
90	Month 84	-	15.26%
91	Month 85	-	15.26%
92	Month 86	-	15.26%
93	Month 87	-	15.26%
94	Month 88	-	15.26%
95	Month 89	-	15.26%
96	Month 90	-	#DIV/0!
97	Month 91	-	#DIV/0!
98	Month 92	-	#DIV/0!
99	Month 93	-	#DIV/0!
100	Month 94	-	#DIV/0!
101	Month 95	-	#DIV/0!
102	Month 96	-	#DIV/0!
103	Month 97	-	#DIV/0!
104	Month 98	-	#DIV/0!
105	Month 99	-	#DIV/0!
106	Month 100	-	#DIV/0!
Sheet1

Cell Formulas
Range	Formula
B6	B6	=(1+IRR($B$7:$B$106,0.1))^12-1
A8:A106	A8	=+A7+1
C7:C106	C7	=(1+IRR(B$7:B7))^12-1

 

[Joe4]

Admittedly, I do not ever use the IRR function, but when I copy your data, the formula in cell B6 returns a valid value for me:

Judging by the explanation of the function, it is easy to see why your formulas in column C return the #NUM! errors.
Looking at Microsoft's explanation of the function here: IRR function - Microsoft Support, notice what it says about the values in the range/array you are using:

All your values in column B are negative, until you get to cell B38. At that point, you stop getting errors in your column C formula.