6. Mr. Cook is considering a project. He needs to pay $105 at to to hold the project. From period t on, he will get a cash flow of $11 in evcry period forever. The constant rate of return is 10%. (a) Will Mr. Cook invest in this project? Before the investment, Mr. Cook meets his financial adviser, Miss Lee. Miss Lee suggests that the project may default. She estimates that the project will surely pay at t1. However, from 2 on, conditional on that the project pays at t,, the project defaults at tj+1 with probability 1%. And if the project defaults at ti, there will be no subsequent cash flows. (b) After the meeting, will Mr. Cook invest in the project