ERnest has used the estimates provided by Dan to determine the revenues that could be expected from the mine. She alsohasprojected the expense of opening the mine and the annual operating expenses. If the company opens the mine, it will cost $625 million today, and it will have a cash outflow of $90 million nine years from today in costs associated with closing the mine and reclaiming the area surrounding it. The expected cash flows each year from the mine are shown in the nearby table. Bullock Gold Mining has a 12 percent required return on all of its gold mines.

use Excel to calculate the Net Present Value, Internal Rate of Return, Modified Internal Rate of Return, and payback period of a project. You will need to provide answers to Steps 1 and 2 in the exercise using Excel to present your calculations. (Step 3 is not required.) You must use functions and formulas to perform all necessary calculations for Step 1. Submissions with only numbers and no formulas or functions will not receive credit for this assignment. Your submission must be neatly organized and must clearly present your work and results. For Step 2, you must submit a Microsoft Word document that summarizes the problem, provides your analysis of the work performed in Step 1, and recommends whether the company should open the mine, as described in the case