• Item	Base Case
  Cost of land	$ 10,000,000
  Cost of building & equipment - yr0	$ 15,000,000
  Cost of building & equipment - yr1	$ 10,000,000
  Cost of building & equipment - yr2	$ 10,000,000
  Depreciation life of building & equip	20
  Cost of additional equip - yr7, yr12 & yr17	$ 5,000,000
  Depreciation life of additional equip	5
  Initial price at yr0	$ 13.65
  Initial output at yr3	15,000,000
  Assumed decline in output starting yr13	-3%
  Incremental variable cost at yr 3	$ 12.75
  Fixed costs at yr3	$25,000,000
  Tax rate	21%
  Net working capital at yr2	$ 2,000,000
  Net working capital % of sales starting yr3	4%
  Inflation rate	3.5%
  Required return	9%
  NPV
  IRR
  MIRR

What is the NPV, IRR, and MIRR?