Return to the Sport Hotel project that was introduced in Topic $6$ of the course notes and also in Chapter $9$ on real options. Consider the original data as was given in the problem $($please refer to either your textbook or the course notes should you need to be reminded of these data$).$ Suppose that everything is the same as in that original set$-$up example except two things: $(1)$ the probability that the city will be awarded the franchise, $p,$ is equal to $42\%$ and $(2)$ the value of the hotel, should the city be awarded the franchise, is not $$8,000,000$ but is instead $$6,500,000.$ Given these two changes, and incorporating the real option into the analysis, which $f$ the following is closest to the project's NPV$?$

$NPV=$$$50,000$

$NPV=$$$1,000,000$

NPV $=$$$100,000$return to the sport hotel pro