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: *Net receipts from sales of ore, less out of pocket costs for salaries, utilities, insurance and so forth, including depreciation on the new equipment of $80,000 per year. The mineral deposit would be exhausted after four years of mining. The company's required rate of return is 16%. Required: 1. Determine the net present value of the proposed mining project. (20 marks) 2. Should the project be accepted? (2 marks) Explain why in three sentences or less (8 marks)