6. (20pt) A company considers a 3-year strip-mining project that requires an initial investment of $200 million. The project is expected to generate a $600 million profit in the first year, a $600 million loss in the second year, and a $150 million profit in the third year. Its estimated salvage value at the end of year 3 is $55 million. The MARR is 10% per year. a) (10pt) Explain why you can apply the IRR method to evaluate this project. b) (10pt) Determine if this project is acceptable using the IRR method. Do not use an approximate method when you obtain the IRR of this project. (Hint: use the fact that 1- + - = (1- )" when you obtain the IRR.)