Consider a fiem that mines minerals in northem BC. The initial cost to develop the mine is $10 Million. The cost to operale the mine is $5 Million per year. The mine aperatest only three years starting one year after as development. Hewever, the mine pollules a river causing a decine of the salmon population. in response. the net benefits from salmon fishing decline from $1 Milion to $0.5 Milion per year. The damage to the fiver lasts forever. Assume an interest rate of 10%. What is the present value of the private costs? Type your answer. 7 point Consiffer a firm that mines minera's in northern BC. The initial cost to develop the mine is $10 Milion. The cost to operate the mine is $5 Mition per year. The mine operates only three years starting one year atter its development. However, the mine polkutes a river causing a decine of the salmon population. In response, the net benefits from salmon fishing decline from \$1 Million to $0.5 Million per year starting one year atter the devefopment of the mine. The damage to the tiver lasts torever Assume an interest fafe of 10%. What is the present value of the social cost