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Mines Company, INC owns the mining rights to a large tract of land in a mountainous area. The tract contains a mineral deposit that the

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Mines Company, INC owns the mining rights to a large tract of land in a mountainous area. The tract contains a mineral deposit that the company believes might be commercially attractive to mine and sell. An engineering and cost analysis has been made, and it is expected that the following cash flows would be associated with opening and operating a mine in the area: *Receipts from Sales of Ore, less out of-pocket-costs for salaries, utilities, and insurance. The mineral deposit would be exhausted after five years of mining. At that point the working capital would be released for reinvestment elsewhere. The company's required rate of return is 14%. REQUIRED: (Ignore Income Taxes) Determine the Net Present Value of the Proposed Mining Project. Should the project be accepted? Create a Spread Sheet to show the Net Present Value Calculation. Give your opinion if the Mining Project should be accepted or not

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