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Build the explicit input sequence
Begin with a negative initial amount. Include every later interval, even when its receipt is zero. The selected rate applies to one interval and is nonnegative in this basic model. A later outflow requires the general NPV model rather than silently forcing a monotone recovery calculation.
Reconstruct the crossing interval
For −1,000; 400; 400; 400, the raw cumulative amount before period three is −200 and its receipt is 400. The interpolation is 2 + 200/400 = 2.5. But all stated receipts arrive at period ends, so the first recorded raw recovery date is three.
Interpret a missing discounted result
At 10%, the default discounted cumulative amount remains slightly negative at period three. The tool therefore reports no discounted recovery in the entered horizon. It does not invent a later date without a supplied later receipt.
Use NPV to retain the later flows
A first-recovery statistic stays unchanged after subsequent receipts are added, while full-horizon NPV changes. Keep the entire sequence when evaluating value, and avoid interpreting recovery timing as a complete risk or liquidity assessment.