Show all caleuaiolS. 7. Luther Industries is considering launching a new toy just in time for the Christmas season They estimate that if Luther launches the new toy this year it will have an NPV of $25 million. Luther has the option to wait one year until the next Christmas season to launch the toy, however, the demand next year will depend upon what new toys Luther's competitors introduce and therefore greater uncertainty about next year's demand. Launching the new today will involve a total capital expenditure of $100 million. If the risk-free rate is 5%, sigm a is 20% (o), then what is the value of the option to wait until next year to launch the new toy? Show all calculations. &Taggart Transcontinental's stock has a variance of 6.25% and a current stock price of $40 per share. Taggart pays $1 dividend every quarter. The risk-free interest rate is 4%. The Black- Scholes value of a one-year, at-the-money put option on Taggart stock is closest to: Show all calculations