II. (15 marks) A project has an expected risky cash flow of $600 in years 1,2 and 3 . The risk-free rate is 4 percent, the expected market rate of return is 14 percent, and the project's beta is 1.10 . (A) Calculate the certainty equivalents cash flow for years 1, 2 and 3 (CEQ). (B) What is the difference between the CEQs and the PVs of the year 1, 2,3 risky cash flows? II. (15 marks) A project has an expected risky cash flow of $600 in years 1,2 and 3 . The risk-free rate is 4 percent, the expected market rate of return is 14 percent, and the project's beta is 1.10 . (A) Calculate the certainty equivalents cash flow for years 1, 2 and 3 (CEQ). (B) What is the difference between the CEQs and the PVs of the year 1, 2,3 risky cash flows