Bill Cinton reportedly was paid $15.0 miltion to write his book My Life. The book took threo years to write. In the time he spent wrtiting. Cinton could have been paid to make speoches, Given his popularity, assume that he could earn $8.7 mifion per year (paid at the end of the year) speaking inatead of writing. Assume his cost of capital is 9.3% per year. a. What is the NPV of agreeing to write the book (ignoring any royalty payments)? b. Assume that, onco the book is finished, it is expected to generate royaities of $5.2 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 perpetuly. What is the NPV of the book with the royaly payments? a. What is the NPV of agreeing to wrle the book (gnoring any royalty payments)? The NPV of agreeing to write the book (ignoring any royaity payments) is ? (Round to the nearest doltar.)