Lion S$.$A$.$ produces batteries for electric vehicles. Lion is considering whether to implement a new battery technology. One year from now, the company will know whether the new technology is accepted in the market. If the demand for the new technology is high, the present value of the cash flows in one year will be $120$ million. Alternatively, if the demand is low, the present value of the cash flows in one year will be $60$ million. The value of the project today under these assumptions is $95$ million, the risk$-$free rate is $4\%.$ Suppose that in one year, if the demand for the new technology is low, the company can abandon the technology and sell it to a leading chemicals company for $75$ million.

c$)$ What is the value of the option to abandon? Show all calculations.