All American Telephones Inc. is considering the production of a new cell phone. The project

will require an after$-$tax investment of $$13$ million. If the phone is well received, the project

will produce after$-$tax cash flows of $$8$ million per year for $3$ years, but if the market does not

like the product the after$-$tax cash flows will be only $$2$ million per year. There is a $50\%$

probability of both good and bad market conditions. All American can delay the project a year

while it conducts a test to determine whether demand will be strong or weak. The delay will

not affect the dollar amounts involved for the project's after$-$tax investment or its after$-$tax

cash flows $--$ only their timing. Because of the anticipated shifts in technology, the $1-$year

delay means that after$-$tax cash flows will continue only $2$ years after the initial investment is

made. All American's WACC is $8\%.$ What action do you recommend? Excel answer if possible