Windhoek Mines, Lid of Namibia, is contemplating the purchase of equipment to exploit a mineral deposit on land to which the company has mineral rights. An engineering and cost analysis has been made, and it is expected that the following cash flows would be associated with opening and operating a mine in the area Cost of new equipment and timbers Working capital required Annual net cush receipts Cost to construct new roads in year three Salvage value of equipment in four years $ 470,000 $ 165,00 $ 100,00 $53,000 $ 78,00 "Receipts from sales of ore, less out-of-pocket costs for salaries utilities, insurance and so forth. The mineral deposit would be exhausted after four years of mining At that point, the working capital would be released for reinvestment elsewhere. The company's required rate of retum is 19% Click here to view 78.1 and Exhib7B2 to determine the appropriate discount factors using tables Required: a. What is the net present value of the proposed mining project? b. Should the project be accepted? Complete this question by entering your answers in the tabs below