Singh Development Co. is deciding whether to proceed with Project X. The after-tax cost would be $12m illion in Year 0 . There is a 50% chance that x would be hugely successful and would generate annual after-tax cash flows of $10 milion per year daring Years 1,2 , and 3 . Hawever, there is a 50 s chance that X would be less successful and would generate aiter-tax cash flows of only $1 mallion per year for the 3 years. If Project X is higgely successful, it would open the doot to another investinent, Project Y, which would require an after-tax outlay of $10 million at the end of Year 2 . Project Y would then be sold to another company netting $20 milion after taxes at the end of Year 3. Singh's WACCis 9\%. a. If the company does not consider real options, what is Project X 's expected NPV? Enteryour answers in millions. Yor example, an answer of 510,550,000 should be entered as 10,55. Negative value, it any, should be indicated by a minus sign, Do not round intermediate calculations. Round your answer to three decimal plactis. 5 muilion b. What is X's expected NFY with the growth option? Enter your answers in millions. For example, an answer of $10,550,000 should be entered as 10.55, Negative value, of anv. shouid be indicated by a minus sign. Do not round intermediate calculations. Rownd your answer to three decimal places: 1 miltion c. What is the volue of the growth oction? Enter your answers in millions, for exampie, an anwer of $10,550,000 should be entered as 10.55 Negative value, If any, shailf be indicated by a minis sign. Do not round intermediate calculations. Round your answer to three decimal places. \$y milion