PLEASE SOLVE IN EXCEL :B&B has a new baby powder ready to market. If the firm goes directly to the market with the product, there is only a $60$ percent chance of success. However, the firm can conduct customer segment research, which will take a year and cost $$1\mathrm{.}21$ million. By going through research, the company will be able to better target potential customers and will increase the probability of success to $75$ percent. If successful, the baby powder will bring a present value profit $($at time of initial selling$)$ of $$19\mathrm{.}1$ million. If unsuccessful, the present value payoff is only $$6\mathrm{.}1$ million. The appropriate discount rate is $14$ percent.

Calculate the NPV for the firm if it goes to market immediately and if it conducts customer segment research. $($Do not round intermediate calculations and enter your answers in dollars, not millions of dollars, rounded to $2$ decimal places, e$.$g$.,1,234,567\mathrm{.}89.)$

Should the firm conduct customer segment research or go to the market immediately?

multiple choice

Conduct research

Market immediately