Problem 24 points) Totty Company is considering the following project to produce a product. Year 0 1 2 3 4 After-tax Cash Flow in $ - 100.000 33.950 33.850 33.950 33.450 The management believes if the company delays taking the project one year to compile additional information about the market (the company has the option to delay), the cash inflow will be 43,500 per year. However, the initial cash outflow will increase by 14 percent. The company has enough retained earnings to take this project no matter when. The Company beta coefficient is 1.13, the return on risk-free security is 2.81 percent, and the average return on S&P 500 is estimated to be 11.23 percent. a. Compute NPV of the project if the company takes the project today. Show your work. b. Compute NPV if the company takes the project next year. Show your work. c. What is the value of the option to delay? Should the company delay the project for the next year? Justify your suggestion in writing