1. A certain marble mine property has an estimated life of 30 years at a projected annual output of 3,000 cubic meters o

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1. A certain marble mine property has an estimated life of 30
years at a projected annual output of 3,000 cubic meters of marble
blocks. Estimated management cost per year is placed at 1,500,000
and operating cost of the quarry and processing plant is P8,000 per
cubic meter. The finished products tiles and slates can be sold for
P12,000 per cubic meter if exported. Determine the present
valuation of the mineral property if the sinking fund rate of
interest is 15% and the annual dividend rate is to be 12%.
Answer : P85,854,317.13 (I need the solution to this answer)