Question 23 4 pts Your company is considering a project with the following after-tax cash flows (in $millions) Outcome Probability (%) t=0 t = 1 t = 2 t=3 t = 4 Good 50 -11 7 7 6 5 So-so 50 -11 1 N 2 2 1 If the outcome is good, the project would open the door to another investment project which would required an outlay of $8 million at the end of Year 3. The new project would then be sold to another company netting $16 million after-tax at the end of Year 4. All cash flows are to be discounted at 8%. Estimate the value of the growth option. $2.70 million $2.02 million $ 1.94 million $2.84 million $1.27 million