A mining company is considering whether to develop a mining property. It is estimated that an immediate expenditure of $7,000,000 will be needed to bring the property into production. Thereafter, the net cash inflow will be $1,700,000 at the end of each year for the next 10 years. An additional expenditure of $3,200,000 at the end of 11 years will have to be made to restore the property to an attractive condition. On projects of this type, the company would expect to earn at least 20% compounded annually. Find the NPV and advise whether the company should proceed. Select one: a. NPV=$303,479. Proceed O b. NPV=-$389,615. Do not proceed c. NPV=-$303,479. Do not proceed d. NPV=$389,615. Proceed