A project requires an investment of $72 million. It can yield either a perpetual yearly cash flow of $8 million with a probability of 0.40 or $5 million with a probability of 0.60. There are no taxes. The cash flow observed in the first year will be repeated in all subsequent years. After observing the cash flow from the project in the first year, the scale of the project can be doubled increased after an additional investment of $72 million. The discount rate is 10%.

Assume that at the end of the first year, the scale of the project can be doubled by making an additional investment of $72 million if the high cash flow of $8 million is observed in the first year, and the project is going to be abandoned if the low cash flow of $5 million is observed. What should the minimum abandonment value be so that the project is just acceptable?

A) $59 million

B) $60 million

C) $61 million

D) $62 million

E) $63 million