K-Roo Ltd. is looking to establish a subsidiary in New Zealand. The estimated NZD cash flows for the subsidiary for the next three years (after which the subsidiary will be disestablished) are: Yrolyn Yr2 Yr3 -7.7 67.758.7 29.8 The required rate of return for the investment is 1.98% and the tax rate is 30%. The New Zealand government offers a tax holiday for the first year, during which cash flows are not taxed. What is the value of that tax holiday? Note: the initial outlay in year O is the initial investment amount and is not considered an expense. a. 19.9157 @b.-19.9157 @c, 97.9482 d. -45.2778 e. 117.8639