please help answer the parts from picture two and three. part b referes to the third picture.

ignore questions number 2 and 3 on the book (first picture)

Chapter 9 Net Present Value and Other Investment Criteria 311 ect in MINICASE Year 0 1 2 3 pt to 4 Cash Flow -$635,000,000 89,000,000 105,000,000 130,000,000 173,000,000 205.000.000 155,000,000 145,000,000 122,000,000 45,000,000 dows Bullock Gold Mining Seth Bullock, the owner of Bullock Gold Mining, is evaluat- ing a new gold mine in South Dakota Dan Dority, the com- pany'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 Gar rett, 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 an- nual operating expenses. If the company opens the mine, it will cost $635 million today, and it will have a cash outflow f $45 million nine years from today in costs associated with Josing 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. ern- rson the 5 6 7 8 9 QUESTIONS 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. 2. Based on your analysis, should the company open the mine? 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. od. 10 che Page 2: A. Change the cash-flows as follows: Investment $ 600,000,000 Year 1 $ 79,000,000 Year 2 $ 95,000,000 Year 3 $ 120,000,000 Year 4 $ 163,000,000 Year 5 $ 195,000,000 Year 6 $ 145,000,000 Year 7 $135,000,000 Year 8 $112,000,000 Year 9 ($ 55,000,000) Salvage value B. Answer the same questions as required in Page 1, above. Prepare the following: 1. Payback analysis 2. NPV analysis 3. IRR analysis