Petroleum Incorporated (PI) controls offshore oil leases. It is considering the construction of a deep-sea oil rig at a cost of $500 million. The price of oil is $100 per bbl. and extraction costs are $50 per bbl. PI expects costs to remain constant. The rig will produce an estimated 1,200,000 bbl. per year forever. The risk-free rate is 10 percent per year, which is also the cost of capital. (Ignore taxes). Suppose that oil prices are uncertain and are equally likely to be $120 per bbl. or $80 per bbl. next year. Calculate today's NPV of the project (i.e., NP+V @ t = 0) if it were postponed by one year