Strip Mining Inc. can develop a new mine at an initial cost of $8 million. The mine will provide a cash flow of $30 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 70%? 80%? 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? 70% million 80% million 80% million 120% million