4) Suppose that Arundel purchases the sequel rights to all 99 movies from Exhibit 7 and chooses to only exercise the rights to the sequels that seem profitable. That is, those hypothetical sequels from Exhibit 7 that have a one-year return greater than 12 percent.1 a. How many sequels would Arundel produce? b. What is the total PV of net inflows at t=4 from these sequels? c. What is the total cost at t=3? d. What is the NPV of producing these sequels? e. What is the maximum Arundel would be willing to pay for the 99 sequel rights?