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4-17 Improvement to a coal mine haul road is being considered to shorten the overall haul distance and reduce truck cycle times thereby increasing the total number of cycles per day. The cost of the improvements is estimated to be $6,000,000 at time zero. Currently, the trucks make 16 cycles per day from the mine pit to a port load out facility which translates into 2,000,000 tons of coal being hauled each year. If the road improvement is made, the number of cycles is anticipated to increase by 25% to 20 cycles per day which translates into an additional 500,000 tons of annual production from the mine. Total mine reserves are estimated to be 14,000,000 tons and the coal is sold at an average selling price of $32.00 per ton with operating costs of $12.00 per ton. If the haul road improvement is made, the life of the mine will be shortened from seven to six years due to the accelerated production schedule. With the modified haul road, total production in years one through five would be 2,500,000 tons per year with year six production of 1,500,000 tons. For this acceleration problem, use rate of return analysis to determine if the investment in the haul road improvement should be made today The minimum acceptable rate of return is 15%