A company is deciding whether or not it should develop a strip mine at an initial cost of 4.5MM$. Net cash inflows are expected to be 9MM$ for each of the first three years of operations. In the fourth year, the land must be returned to its natural state at a cost of 25 MM$. Develop and plot the NPV profile for the project.

1) What's the rate of return for the project to be accepted?

2) What are the project GRRs if the available reinvestment rate is 8 % and 15%