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This Question: 10 pts 9 of 12 (7 complete) This Test: 120 pts possible Bill Clinton reportedly was paid $15.0 million to write his book My Life. The book took three years to write. In the time he spent writing, Clinton could have been paid to make speeches. Given his popularity, assume that he could eam $8 6 million per year (paid at the end of the year) speaking instead of writing. Assune his cost of capital is 96% per year a. What is the NPV of agreeing to write the book (ignoring any royalty payments)? b. Assume that, once the book is finished, it is expected to generate royalties of $4 6 million in the first year (paid at the end of the year) and these royalties are expected to decrease at a rate of 30% per year in perpetuity. What is the NPV of the book with the royalty payments? a. What is the NP'V ot agreeing to write the book (ignonng any royalty payments) The NPV of agreeing to write the book (ignoring any royalty payments) is s-6925264 (Round to the nearest dollar.) b. Assume that, once the book is finished, it is expected to generate royalties of $4 6 million in the first year (paid at the end of the year) and these royalties are expected to decrease at a rate of 30% per year in perpetuity. What is the NPV of the book with the royalty payments? The NPV of the book with the royalty payments is $2792863 (Round to the nearest dollar.) More Enter your answer in each of the answer boxes O Type here to search