4. Hobbs Gold Mining, is evaluating a new gold mine in South Dakota. The firms geologist has estimated the mine will be productive for 8 years. The cost of opening the mine will be $525 million and it is estimated that it will cost $35 million to close the mine in year 9. Based on geological analysis of the amount of gold likely to be extracted and the projection of gold prices, the following table presents estimated cash flows for the project.

Year	Cash Flow
0	(525,000,000)
1	74,000,000
2	97,000,000
3	125,000,000
4	157,000,000
5	185,000,000
6	145,000,000
7	125,000,000
8	102,000,000
9	(35,000,000)

Hobbs will use a 12 percent rate to discount all cash flows. What is the net present value (NPV), internal rate of return (IRR), and profitability index (PI) for the project? What is the payback period for the project? Should it be accepted?