Investment Timing Option: Option Analysis expects the hotel will produce positive cash flows of $3 million a year at the end 13%. the value of the option. Assume that the variance of the project's rate of return is 0.0732 and that the risk-free rate is 6%. Do not round intermediate calculations. Enter your answer in millions. For example, an answer of $1.234 million should be entered as 1.234, not 1,234,000. Round your answer to the decimal places. Use computer software packages, such as Minitab or Excel, to solve this problem. \$ million Check My Work (5 remaining) Investment Timing Option: Option Analysis expects the hotel will produce positive cash flows of $3 million a year at the end 13%. the value of the option. Assume that the variance of the project's rate of return is 0.0732 and that the risk-free rate is 6%. Do not round intermediate calculations. Enter your answer in millions. For example, an answer of $1.234 million should be entered as 1.234, not 1,234,000. Round your answer to the decimal places. Use computer software packages, such as Minitab or Excel, to solve this problem. \$ million Check My Work (5 remaining)