Required:

a$.$ Assuming that $r_f=5\%$ and $E(r_M)=15\%,$ what is the net present value of the project?

Note: Do not round intermediate calculations. Enter your answer in millions rounded to $2$ decimal places.

b$.$ What is the highest possible beta estimate for the project before its NPV becomes negative?

Note: Round your answer to $2$ decimal places.

a$.$ Net present value

b$.$ Highest beta