Only problems 1 and 2 required. Also, change required return of 12% to 14%. Thank you!!

Chapter 9 Net Present Value and Other Investment Criteria MINICASE Bullock Gold Mining Seth Bullock, the owner of Bullock Gold Mining, is evaluat- ing a new gold mine in South Dakota. Dan Dority, the compa- ny'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 Garrett, the company's financial officer. Alma has been asked by Seth to perform an analysis of the new mine and present her rec- ommendation on whether the company should open the new Year Cash Flow -$525,000,000 74,000,000 97,000,000 125,000,000 157,000,000 185,000,000 145,000,000 125,000,000 102,000,000 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 $525 million today, and it will have a cash outflow of $35 million nine years from today in costs associated with closing he mine and reclaiming the area surrounding it. The expected ash flows each year from the mine are shown in the table. 35,000,000 1. 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. Bullock Mining has a required return of 12 percent on all of 2. Based on your analysis, should the company open the mine? s gold mines. 3. Bonus question: Most spreadsheets do not have a built-in formula to calculate the payback period. Write a VBA script that calculates the payback period for a project