A firm estimates that it needs to make an initial investment of US$ 16 million in order to extract a mineral resource in the brownfield arenas which has a total of 300,000 tonnes. Metallurgists base their expectation decisions on the following techno-economic information. Parameter Production rate Commodity price Fixed costs Variable Costs Value 30,000 tpy $500/tonne $5.0 million every year 30% of incremental revenue 30% Marginal tax Mineral royalties Salvage value (SLM of Depreciation) Discount rate 6% on gross revenue $2 million 15% Mineral commodity price registers a growth rate of 2.5% per year. Construct the estimated annual net operating cash flows (NOCF) for the project (a) Calculate the NPV to advise management on the launch of the project. (b) Estimate the cost-benefit ratio and comment on the viability of the project (c) When does the project pay back (in months)? (d) Estimate the monetary value of the project at 30% discount rate (e) Explain with figures if the project will be accepted at 30% discount rate