Strip Mining Inc. can develop a new mine at an initial cost of $17 million. The mine will provide a cash flow of $44 million in 1 year. The land then must be reclaimed at a cost of $28 million in the second year.

a. What are the IRRs of this project? (Enter your answers in ascending order. Do not round intermediate calculations. Enter your answers as a percent rounded to 2 decimal places.)

IRR 1		%
IRR 2		%

b. Should the firm develop the mine if the discount rate is 8%? 18%? 30%? 70%? (Negative amounts should be indicated by a minus sign. Do not round intermediate calculations. Enter your answers in millions rounded to 3 decimal places.)

Discount Rate	NPV		Develop?
8%		million
18%		million
30%		million
70%		million