Kindly Show the calculation process and formula using its easy to address it

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Seth Bullock, the owner of Bullock Gold Mining, is evaluating a new gold mine in South Dakota. Dan Dority, the company's geologist, has just finished his analysis of the mine site. He has estimated that the mine would be productive for eight years, after which the gold would be completely mined. Dan has taken an estimate of the gold deposits to Alma Garett, the company's financial officer. Alma has been asked by Seth to perform an analysis of the new mine and present her recommendation on whether the company should open the new mine. Alma has used the estimates provided by Dan to determine the revenues that could be expected from the mine. She has also projected the expense of opening the mine and the annual operating expenses. If the company opens the mine, it will cost $635 million today, and it will have a cash outflow of $45 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 table. Bullock Mining has a required return of 12 percent on all of its gold mines. Questions: a) Construct a spreadsheet to calculate the payback period, internal rate of return, modified internal rate of return and net present value of the proposed mine. b) Based on your analysis, should the company open the mine? You have been hired as a consultant for Pristine Urban-Tech Zither, Incorporated (PUTZ), manufacturers of fine zithers. The market for zithers is growing quickly. The company bought some land three years ago for $2.8 million in anticipation of using it as a toxic waste dump site but has recently hired another company to handle all toxic materials. Based on a recent appraisal, the company believes it could sell the land for $3 million on an aftertax basis. In four years, the land could be sold for $3.2 million after taxes. The company also hired a marketing firm to analyze the zither market, at a cost of $355,000. An excerpt of the marketing report is as follows: The zither industry will have a rapid expansion in the next four years. With the brand name recognition that PUTZ brings to bear, we feel that the company will be able to sell 6,900 , 7,600,8,200, and 6,500 units each year for the next four years, respectively. Again, capitalizing on the name recognition of PUTZ, we feel that a premium price of $515 can be charged for each zither. Because zithers appear to be a fad, we feel at the end of the four-year period, sales should be discontinued. PUTZ believes that fixed costs for the project will be $715,000 per year, and variable costs are 25 percent of sales. The equipment necessary for production will cost $3.55 million and qualifies for 100 percent bonus depreciation in the first year. At the end of the project, the equipment can be scrapped for $595,000. Net working capital of $305,000 will be required immediately. PUTZ has a tax rate of 23 percent, and the required return on the project is 11 percent. What is the NPV of the project