Windhoek Mines, Ltd$.,$ 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:

$*$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 return is $20\%.$

Click here to view Exhibit $12$B$-1$ and Exhibit $12$B$-2,$ to determine the appropriate discount

factor$($s$)$ using tables.

Required: $$

a$.$ Determine the net present value of the proposed mining project. $($Any cash outflows

should be indicated by a minus sign. Use the appropriate table to determine the

discount factor$($s$).$ When you enter a factor, use a whole number followed by $3$

decimal places, for example: $0\mathrm{.}123.)$

Answer is complete but not entirely correct.