ERP, Co. is considering entering a licensing agreement with STAT, Inc. the agreement calls for an initial investment from ERP of $115.1 million. The 15-year agreement is expected to generate for ERP $13.3 in after-tax annual net cash flow throughout its 15-year life. The risk involved in the licensing agreement suggests a beta 0.60. The market risk premium is assumed to be 8.0% and the risk-free rate is 4.0%. 4 pts a. What is the NPV of the licensing agreement project? b. What is the projects IRR? c. What is the current value of the licensing agreement project?