You own a coal mining company and are considering opening a new mine. The mine itself will cost $ 118 million to open.

You own a coal mining company and are considering opening a new mine. The mine itself will cost $ 118 million to open. If this money is spent​ immediately, the mine will generate $ 22 million for the next 10 years. After​ that, the coal will run out and the site must be cleaned and maintained at environmental standards. The cleaning and maintenance are expected to cost $ 1.7 million per year in perpetuity. What does the IRR rule say about whether you should accept this​ opportunity? If the cost of capital is 7.7 %