31 Suppose that Arundel purchases the sequel rights to all 95 movies from Exhibit ? and exercises every option to produce a sequel . Exhibit ? provides the average cost ( at 1 = 3 ) and average cash inflow lat I = 4) for a sequel . What is the NPY at 1 = O of producing a sequel, on average ? Discuss. ASSUME a discount rate of 1 2 percent here and throughout the assignment