Mineral rights of a mining company can be acquired by a company for a $$75$

million lease bonus cost at time $0.$ A mineral development cost of $$300$ million and

mine equipment cost of $$150$ million will be incurred at time $0.$ Year one

production will be $20$ million tons of ore from initial reserves estimated to be $100$

million tons. The net smelter return value of the ore is estimated to be $$18\mathrm{.}00$ per

ton. Royalties are $1\mathrm{.}5\%$ of gross income operating costs in year one are estimated

to be $$90$ million. Assume $7$ year life MACRS depreciation starts in year $1$ using

the half year convention. Expense $70\%$ of the mine development cost at time zero.

Deduct the remaining $30\%$ by amortizing with a six month deduction $(6/60)$ at time

zero. Assume a $21\%$ effective federal and state income tax rate and determine the

estimated cash flow during time zero and year one for a corporation assuming

$$standalone$$ loss carry forward economic analysis. Examine the impact on the

after tax cash flows if $100\%$ bonus depreciation is claimed in year one. Please do this in excel and show work please.