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8. You are working with coileagues to develop a capital cost estimate for construction of a new mine your company is developing in Canada. Management is interested in assessing the potential impact of a forecast for ination in the two years between now and the start of construction on the estimate. The costs within the forecast that could be affected by general infiation in Canada total $3?5 miliion You know that the value of the Canadian Consumer Price Index (CPI) at the start of this year is 138.2, and a finance person on your team has obtained forecast values of 133.9 and 139.6 for each of the next two years. A colleague says that in order to provide management with the assessment, you will also need to know the base year for the CPI [a] Is your colleague Correct, or Incorrect? Briefly (1-2 sentences] explain your answer {h} Calculate the amount by which the capital cost estimate would increase, considering only the impact of general inflation in Canada on the costs affected