Airbus is considering a joint venture with Lear Aircraft to produce a small commercial airplane capable of carrying 40-50 passengers on short haul flights. Airbus will have to invest $500 million fc Page 2 % share of the venture. This investment will not produce any cash flows for the first five years. However, if the things go well and the project is successful, the present value of Airbus' share of the future cash flows from the project will be $700 million in five years' time. On the other hand, if things go badly and the project is unsuccessful, the present value of Airbus' share of the future cash flows from the project will only be $300 million in five years' time. To encourage Airbus to accept the deal, Lear Aircraft has offered to buy its share of the investment for $400 million in five years' time, if Airbus decides to abandon the venture at that time. What is the value of this option for Airbus? (Enter your answer as a number rounded to two decimal places, in units of a million dollars. So, if the value of the option is $23.45 million, you should enter 23.45 as your answer.)