Good afternoon, I am working in Pearson MyLAB for MBA615, Unit 3, Question#5. I am stuck and need your help! Please provide step-by-step instructions on how to arrive at the correct ANSWER. THANK YOU IN ADVANCE!

'9 m Ho ' mathxl.com/Student/PlayerHom ewo rk.aspx?homeworkld :6160082358tquestionld :10&flushed :false&cld :67944488Lcenterwin:yes Q MBA615DLSIP2022 Managerial Finance Esther Marie Colvin 01/14/22 5:49 PM Question 5, P7-5 (similar to) ) HW Score: 80%, 16 onD points Homework: Unit 3 Homework Part1 012 '31 Points: 0on Bill Clinton reportedly was paid an advance of$10.0 million to write his book My Life. Suppose the book took three years to write. In the time he spent writing, Clinton oould have been paid to make speeches. Given his popularity, assume that he could earn $7.5 million a year (paid at the end of the year) speaking instead of writing. Assume his cost of capital is 9.5% per year. a. What is the NPV of agreeing to write the book (ignoring any royalty payments)? b. Assume that, once the book is nished, it is expected to generate royalties 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 perpetuity. What is the NPV of the book with the royalty payments? a. What is the NPV of agreeing to write the book (ignoring any royalty payments)? The NPV of agreeing to write the book is $ million. (Round to three decimal places.) Help me solve this View an example Get more help A