The Engler Oil Company is deciding whether to drill for oll on a tract of land that the company owns. The company estimates that the project will cost 57 milion today. Engler estimates that once drilled, the oll will generate positive cash flows of $4.1 million a year at the end of each of the next 4 years. A/though the company is fairly confident about its cash flow forecast, it recognizes that if it waits 2 years, it will have more information about the focal geology as well as the price of oll. Engler estimates that if it waits 2 years, the project will cost 58 million, and cash flows will continue for 4 years after the initial investment is made. Moreover, if it waits 2 years, there is a 85% chance that the cash flows will be 54.4 million a year for 4 years, and there is a 15% chance that the cash fows will be $2.4 million a year for 4 years. Assume that all cash flows are discounted at 9%. a. If the company chooses to drill today, what is the project's expected net present value? Enter your answer in millions. For example, an answer of $1.2345 million should be entered as 1.2345, not 1,234,500. Do not round intermediate calculations. Round your answer to four decimal places. 5 million b. Would it make sense to wait 2 years before deciding whether to drili? Enter your answer in millions. For example, an answer of $1.2345 million should be entered as 1.2345, not 1,234,500. Do not round intermeciate calculations. Round your answer to four decimal places, NPV of waiting: 5 milion because the NPV of waiting two years is than going ahead and proceeding with the project today. c. What is the value of the investment timing option? Enter your answer in millions. For example, an answer of $1.2345 miltion should be entered as 1.2345. not 1,234,500. If an amount is zero, enter 0 . Do not round intermediate calculations. Rround your answer to four decimal places. 5 mailion