(use the open space to show your calculations) Flintstone Mining, Inc., owns the mining rights to a large tract of land in a mountainous area of Colorado. The tract contains a mineral deposit that the company believes might be commercially attractive to mine and sell. An engineering and cost analysis has been made, and it is expected that the following cash flows would be associated with the opening and operating of the possible mine. Note: The mineral deposit would be exhausted after eight years of mining. The company's required rate of return is 8% It is anticipated that the mine will have Annual Net Cash Receipts of $ 210,000 annually, the cost of the initial equipment will be $925,000. The State of Colorado requires a deposit of $250,000 at the beginning of the project for possible environmental clean-up costs. These funds are returned to the company one year after all operations cease. The haul road leading to the mine will need to be repaired in year 4 at a cost of $40,000 for each repair. Salvage Value of the equipment in year 8 is $200,000. Determine the Net Present Value of the proposed mining project. What would be the impact to the company if the project was accepted. As Controller would you recommend this project to be started