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Check my work 2 Strip Mining Inc. can develop a new mine at an initial cost of $8 million. The mine will provide a cash flow of $30 million in 1 year. The land then must be reclaimed at a cost of $28 million in the second year. a. What are the IRRs of this project? (Enter your answers in ascending order. Do not round intermediate calculations. Enter your answers as a percent rounded to 2 decimal places.) 125 points IRR 1 IRR2 Meterences b. Should the firm develop the mine if the discount rate is 70% 80%7B0%? 120%? (Negative amounts should be indicated by a minus sign. Do not round intermediate calculations. Enter your answers in millions rounded to 3 decimal places) Discount Rate NPV Develop? 70% million 50% 80% million million million 12044 Check my work 2 Strip Mining Inc. can develop a new mine at an initial cost of $8 million. The mine will provide a cash flow of $30 million in 1 year. The land then must be reclaimed at a cost of $28 million in the second year. a. What are the IRRs of this project? (Enter your answers in ascending order. Do not round intermediate calculations. Enter your answers as a percent rounded to 2 decimal places.) 125 points IRR 1 IRR2 Meterences b. Should the firm develop the mine if the discount rate is 70% 80%7B0%? 120%? (Negative amounts should be indicated by a minus sign. Do not round intermediate calculations. Enter your answers in millions rounded to 3 decimal places) Discount Rate NPV Develop? 70% million 50% 80% million million million 12044