$14.$ Landgrab Inc. owns the right to erect an office building on a parcel of land in downtown Detroit over the next year. The building would cost $$11\mathrm{.}5$ million to construct. Due to low demand for office space in the downtown area, such a building is worth approximately $$11$ million today. If demand increases, the building would be worth $$13\mathrm{.}5$ million a year from today. If demand decreases, the same building would be worth $$9$ million in a year. The firm can borrow or lend at the risk free rate of $2\mathrm{.}5\%$ per annum $($effective annual yield$).$ A local competitor in the real estate business has recently offered Landgrab $$1,000,000$ for its right to build an office building on the land. Should Landgrab accept this offer? Value the land as a real option to arrive at your decision.