Assume your company is considering a new project at a cost of $12 million. The project may begin today or in exactly one year. You expect the project to generate $1.5 million in free cash flow the first year if you begin the project today. Free cash flow is expected to grow at a rate of 3% per year. The risk free interest rate is 4% and the appropriate cost of capital for this investment is 11%. The volatility of the project's value is 30%. Use Black-Scholes model to evaluate the real option embedded in this project and determine whether it is optimal to investment now or in one year. Round to the second decimal place when calculating d1 and d2