2. Suppose that UoP's secret palladium mines in the foothills are slowly playing out. The mines currently produce 400,000 ounces of palladium a year, with a market value of $3,000 per ounce. But production is forecast to decline by 3% per year forever. (a) If palladium mining companies generally have an annual discount rate of 12%, what is the value of UoP's secret palladium mines? (b) What is the value of the mines if the palladium production is forecast to decline by 3% per year for the next 13 years and then fall to zero? (Hint: Take the answer from part A and subtract off the value of the production from year 14 and beyond.) (c) Suppose again that the palladium mines production will fall by 3% forever (i.e. it doesn't fall to zero at year 14). UoP wants to raise money now by leasing the mines for a period of 20 years, starting 15 years from now, and charging a lump-sum lease payment. How much money will they raise today from this transaction