I have a set of questions extremely similar to those posted here: https://www.chegg.com/homework-help/questions-and-answers/ambient-analytics-anticipates-earnings-s385-million-every-year-simply-maintains-current-po-q34582989

I am reposting because I cannot determine how the answer got to the number 0.9009009

Part 1:

Ambient Analytics anticipates earnings of $32.5 million every year from now on if it simply maintains its current portfolio of assets and declines any new projects. But the firm is approached by a data warehouse technology company with an opportunity for Ambient to invest $29 million today; and $45 million one year from now in a new product that requires technical development and regulatory approval. The new investment will generate annual after-tax cash flow of $17 million in perpetuity starting three years from today. Ambient has 14.0 million shares outstanding and the required rate of return on the stock is 11%.

What is the total dollar present value cost of the 2-installment investment?

A. $67,336,537

B. $69,540,541

C. $74,945,946

D. $75,113,890

E. $82,458,440

Part 2:

What is the total dollar present value of the benefit of the new income stream?

A. $125,432,558

B. $124,679,113

C. $121,669,980

D. $118,947,683

E. $118,054,172

Part 3:

What would Ambients new stock price ($ per share) be if it made the investment?

A. $20.94

B. $21.16

C. $22.09

D. $24.98

E. $25.10