You own a coal mining company and are considering opening a new mine. The mine will cost $$$$117\mathrm{.}3$ million to open. If this money is spent$$ immediately, the mine will generate $$$$19\mathrm{.}9$ million for the next $10$ years. After$$ that, the coal will run out and the site must be cleaned and maintained at environmental standards. The cleaning and maintenance are expected to cost $ $1\mathrm{.}6$ million per year in perpetuity. What does the IRR rule say about whether you should accept this$$ opportunity? If the cost of capital is $7\mathrm{.}7\%,$ what does the NPV rule$$ say?

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