A British brewing company invested last year in a pilot project in Utrecht to explore the possibility to enter the Dutch market. The pilot project had an investment cost of 20 million euros. If the pilot phase is successful, the company will proceed with a large-scale launch across the Netherlands. This follow-up project might be launched in 3 years from today. The follow-up project's annual volatility is equal to 40.50%. The investment cost for the follow-up project is 309 million euros, while the present value of the follow-up project's operating cash flows (OCFs) is equal to 250 million euros. The continuous risk-free interest rate is 5%, the company's cost of capital 14% and its cost of borrowing 8%. It is financed according to a long-term target debt-to-equity ratio in market value of 1. The company is in the 30% tax bracket, has a double B bond rating and is listed on the London Stock Exchange. A comparable all-equity financed firm has a cost of capital of 16.47%.

Question: Calculate the value of the follow-up project using the option map method. (You can round interim calculations to two decimals.)