b) You are considering a project which has been assigned a discount rate of 8%. If you start the project today, you will incur an initial cost of RM480 and will receive cash inflows of RM 350 a year for three years. If you wait one year to start the project, the initial cost will rise to RM520 and the cash flows will increase to RM385 a year for three years. What is the value of the option to wait? (6 marks) c) There are FIVE steps for Monte Carlo simulation. Discuss any THREE (3) steps