Use the following information to answer the questions) below reader Metals is co

Question

Use the following information to answer the questions) below reader Metals is considering opening a strip mining operation to provide some of the raw materials needed in producing Rear den metal The j initial purchase of the land and the associated costs of opening up mining operations utE cost $100 million today The mine is exj ~Jto generate $16 million worth of ore pet year for the next 12 years At the end of the l.th year Bearden wild need to spend $20 m. restore the land to its original pristine nature appearance The payback period for Rearden's s mining operation is closest to

Explanation / Answer

Rearden Metals All Amounts in $ million Initial spending done 100 Expected Generation of ore per year 16 Payback period, considering this data 6.25 years

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