COOKOO Car Ventures is developing and commercializing a high-tech people-mover product. Currently the product is built to work at ski resorts. The following are the facts around the technology and its commercialization: - The go-to-market decision will likely be made in 18 months. This is the point where the entrepreneurial team will need to decide to go-all-in! - At the go-to-market decision, the company will need to invest $35M at that time to build the company necessary to commercialize the concept. But of course, much will be learned between today and the date the decision needs to be made. And, the company could decide to pull the plug at any point between then and now. - Based on empirical evidence, if successful, the business that will be created is worth approximately $30M today. - Businesses of this type and stage of development have a standard deviation of returns of approx., 40%.

If the risk-free rate is 3.0%, what is this opportunity worth?