Renfree Mines, Inc., owns the mining rights to a large tract of land in a mountainous area. The t… Assignment Help

  

Show transcribed image text Renfree Mines, Inc., owns the mining rights to a large tract of land in a mountainous area. The tract contains a mineral deposit that the company believes might be commercially attractive to mine and sell. An engineering and cost analysis has been made, and it is expected that the following cash flows would be associated with opening and operating a mine in the area: The mineral deposit would be exhausted after ten years of mining. At that point, the working capital would be released for reinvestment elsewhere. The companys required rate of return is 15%. (Ignore income taxes.) Required: a. Determine the net present value of the proposed mining project. (Negative amount should be indicated by a minus sign. Round discount factor(s) to 3 decimal places, intermediate and final answers to the nearest dollar amount. Omit the sign in your response.) b. Should the project be accepted? No Yes

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