Companies often come across projects that have positive NPY opportunities in which the company does not invest. Companies must evaluate the value of the option to invest in a new project that would potentially contribute to the growth of the firm. These options are referred to as growth options. Hack Wellington Co, is considering a three-year project that will require an initial investment of $45,000. It has estimated that the annual cash flows for the project under good conditions will be $80,000 and $10,000 under bad conditions. The firm belleves that there is a 60% chance of good conditions and a 40% chance of bad conditions. If the firm is using a weighted average cost of capital of 13%, the expected net present value (NPV) of the project is (Note: Do not round intermediate calculations and round your answer to the nearest dollar.) Hack Wellingten Co, wants to take a potential growth opeion into account when calculating the project's expected NPV. If conditions are good, the firm will be able to invest 54,000 in year 2 to generate an additional cash flow of 514,000 in year 3 . If conditions are bad, the firm will not make any further investments in the project. Using the information from the preceding problem, the expected NPV. of this project-when taking the growth option into account-is (Note: Do not round intermediate calculations and round your answer to the nearest dollar) Hack Wellington Co.'s growth option is worth (Note: Do not round intermediate calculations and round your answer to the nearest dollar.)