Strip Mining Inc. can develop a new mine at an initial cost of $14 million. The mine will provide a cash flow of $42 million in 1 year. The land then must be reclaimed at a cost of $29 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 3%? 13%? 80%? 120%? (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?
3%	$ million	(Click to select)YesNo
13%	$ million	(Click to select)YesNo
80%	$ million	(Click to select)YesNo
120%	$ million	(Click to select)YesNo