A mining company plans to mine a beach for rutile. To do so will cost$10 million up front and then produce cash flows of$3 million per year for five years. At the end of the sixth year the company will incurshut-down andclean-up costs of$2 million. If the cost of capital is11%, then what is the NPV for thisproject?

A.

$18,409

B.

$99,212

C.

$111,389

D.

$82,416

E.

$12,304