MUST USE THE PV FUNCTION IN EXCEL. Find the NPV of the investment opportunity for cost of capital 1% to 20%.

5 6 $ S 7 8 Cost of new mine (million) Annual cash flows (million) Number of periods (years) Cleaning costs (million) Cost of capital 120 20 10 2 8% $ 9 10 11 12 13 14 15 16 Cost of Capital 1% 2% 3% 4% 5% 6% 7% 8% 17 18 19 20 21 22 9% NPV (million) -111.631 $ -22.383 S 0.998 S 8.440 S 9.878 S 8.589 S 5.947 S 2.622 S -1.034 S -4.820 S -8.619 S -12.362 $ -16.007 $ -19.531 $ -22.920 -26.169 $ -29.275 $ -32.241 S -35.070 S -37.766 23 24 25 26 27 28 10% 11% 12% 13% 14% 15% 16% 17% 18% 199 20% 29 $ 30 31 32 33 34