Finance Assignment | Top Essay Writing

Copperhead Resources Corp. is a Wyoming natural resources company. The managers are considering buying the rights to property that has strong potential for copper production from an open pit mine.

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Managers project the following net cash flows ($ millions): • Year 1: $0 • Year 2: $0 • Year 3: $15 • Year 4: $27 • Year 5: $28 • Year 6: $16 After year 6, the copper mine will be played out and not profitable to continue mining. Based on the risk of this project, the managers believe that an appropriate annual discount rate is 19%. What is the value of this project, based on this discount rate? Express your answer in $ millions to 3 decimal places. (For example, type “10” for “$10 million or *$10,000,000”; or 11.253 for “$11.253 million” or “$11,253,000”) Get Finance homework help today