Blockbuster: PV$=$$$1\mathrm{.}5$ billion with $5\%$ probability;

Above average: PV$=$$$700$ million with $20\%$ probability;

Average: PV$=$$$300$ million with $40\%$ probability;

Below Average: PV$=$$$100$ million with $25\%$ probability;

$$Dog$$: PV$=$$$40$ million with $10\%$ probability;

Assume the cost of capital remains at $9\mathrm{.}6\%.$

a$.$ What is the NPV at the beginning of Phase III? Answer this question in $ million and keep two decimal places.

b$1.$ What is the NPV at the beginning of Phase II$?$ Answer this question in $ million and keep two decimal places.

b$2.$ Is the $$18$ million investment in phase II trials still positive?