=NPV(rate, value1, ...) discounts a series of cash flows back to today. Excel's NPV assumes the first value arrives one period from now, so it discounts it too. The investment made today (year 0) must stay out and be added after:
=NPV(B1, B5:B9) + B4
A positive NPV means the project returns more than the discount rate; negative means less.
=IRR(values) returns the rate that makes the NPV exactly 0. It takes the whole series, year 0 included, and needs at least one negative and one positive value. Compare it with your required rate: an IRR above it means the project clears the bar.