Question 1: A coal mining company expects to receive $64,000,000 per year for the sale of its clean coal product. Opening the mine and processing facility will require $150,000,000 in capital expenses. Operating and maintenance costs are expected to require expenditures totaling $7,500,000 per year. The useful life of the mine is expected to be 10 years, and the corporate discount rate is 8%. The mine and processing equipment has no salvage value and will be depreciated (straight-line) for 10 years. The composite tax rate is 32%. In addition to the economic information, the total deposit includes 8 million tons of coal which will be mined at 800,000 tons per year. The mineral rights for this deposit originally cost $8.30 million (do not include in initial capital investment). The percent depletion rate is 10%. a. What is the annual cash flow for years 1 through 10? (refer to page 65 in Ch9 lecture notes) b. Draw the discounted cash flow diagram and calculate the NPV of this project.