Suppose Lucent Technologies has an equity cost of capital of 10.3%, market capitalization of $12.16 billion, and an enterprise value of $16 billion. Suppose Lucent's debt cost of capital is 5.8%, its marginal tax rate is 35%, the WACC is 8.73%, and it maintains a constant debt-equity ratio. The firm has a project with average risk. Expected free cash flow, debt capacity, and interest payments are shown in the table below:

Year	0	1	2	3
FCF ($ million)	100	54	98	72
D= d x VL	45.26	36.25	15.89	0
Interest	0	2.63	2.10	0.92

a. What is the free cash flow to equity for this project? (Round all answers to two decimal places. Use a minus sign to indicate a negative number.)

Year	0	1	2	3
FCFE ($ million)

b. What is its NPV using the FTE method?

NPV is _________million. (Round to two decimal places.)