The L-S Mining Company is planning to open a new strip mine in western Pennsylvania. The net investment required to open the mine is $9 million. Net cash flows are expected to be +$17 million at the end of year 1 and +$11 million at the end of year 2. At the end of year 3, L-S will have a net cash outflow of $21 million to cover the cost of closing the mine and reclaiming the land. Use Table II to answer the questions.

1. Calculate the net present value of the strip mine if the cost of capital is 5, 8, 11, 42, 87, and 89 percent. Enter your answers in millions. For example, an answer of $1.20 million should be entered as 1.20, not 1,200,000. Round your answers to two decimal places.
2. k NPV
3. 5% $ million
4. 8% $ million
5. 11% $ million
6. 42% $ million
7. 87% $ million
8. 89% $ million