2. Management at Montana Minerals, Inc., is evaluating when to open n elbonium mine. The company's geologists believe the can produce a total of 55,000 ounces of elbonium that can be extracted at a rate of 5,500 ounces per year. The required return on the mine is 14.0% and it will cost $23.5 million to open the mine. When the mine is opened, Mantle will sign a contract guaranteeing the price per ounce of elbonium that it will receive for the remaining life of the mine. If the mine is opened today, each ounce of elbonium will generate an after- all-expense-including-tax cash flow of $1,050. If the company waits one year, the required investment will increase to $27.75 million and the contract price will for the life of the mine generate an after-tax cash flow of either $1,415 with probability 0.75 or $825 with probability 0.25 per ounce. What is the value of Mantles option to wait? How would your answer change the after-tax cash flow to waiting was either $1,415 or $825 with equal probability