QUT Entertainment launches a project that trains its trainees to form a new boy band. According to the marketing team, the training will cost $1.5 million per year, paid at the end of each year, and the company plans to train them next four years (2021 ~ 2024). If the training is successful, then the firm will be preparing to make their debut in Australia. The probability of success is 80%. In this case, additional investment will be needed to release their debut album. The one-time investment will cost $30 million in 2025, and the firm expects that the boy band will make profits of $10 million per year from 2026 to 2030. If the training is not successful, then the company can just release the trainees without any costs in 2025. Assume that the current five-year discount rate is 9.7%, and the discount rate will be 19%, 3.2%, 2.7%, or 1.4% from 2026. Assume that the risk-neutral probability of each possible rate is the same. What is the value today of this project?