An alternative energy project will cost $310 million. Depending on the price of electricity, the project will create an after-tax savings of either $131 million per year for 5 years or $75 million per year for 5 years. There is a 63% likelihood of the higher outcome occurring. If first year savings are only $75 million, the project can be sold at the end of the first year for $280 million.

What is the expected NPV of the project (in $ millions, rounded to one decimal place, e.g., 12.3) if the option to abandon the project after the first year is considered, given a discount rate of 9%?