A mining company is considering a new project. Because the mine has received a permit, the project would be legal; but it would cause significant harm to a nearby

river. The firm could spend an additional $$10\mathrm{.}33$ million at Year $0$ to mitigate the environmental problem, but it would not be required to do so$.$ Developing the mine

$($without mitigation$)$ would require an initial outlay of $$63$ million, and the expected cash inflows would be $$21$ million per year for $5$ years. If the firm does invest in

mitigation, the annual inflows would be $$22$ million. The risk$-$adjusted WACC is $11\%.$

a$.$ Calculate the NPV and IRR with mitigation. Enter your answer for NPV in millions. For example, an answer of $$10,550,000$ should be entered as $10\mathrm{.}55.$ Do not

round intermediate calculations. Round your answers to two decimal places.

NPV: $

million

IRR:

$\%$

Calculate the NPV and IRR without mitigation. Enter your answer for NPV in millions. For example, an answer of $$10,550,000$ should be entered as $10\mathrm{.}55.$ Do not

round intermediate calculations. Round your answers to two decimal places.

NPV: $

million

IRR:

$\%$