Ang Electronics Inc has developed a new DVDR. If the DVDR is successful, the present value of the payoff (when the product is brought to the market) is $14 million. If the DVDR fails, the present value of the payoff is $2 million. If the product goes directly to the market, there is a 50 percent chance of success. Alternatively, Ang can delay the launch by one year and spend $1.5 million to test market the DVDR. Test marketing would allow the firm to improve the product and increase the probability of success to 70 percent. The appropriate discount rate is 11 percent. What is the value of the option to delay? (in millions) ($0.90)$8.00$0.00($0.13)