We are examining a new project. We expect to sell $5,000$ units per year at $$64$ net cash flow apiece for the next $10$ years. In other words, the annual operating cash flow is projected to be $$64\backslash$times $5,000=$ $$320,000.$ The relevant discount rate is $13$ percent, and the initial investment required is $$1,610,000.$ After the first year, the project can be dismantled and sold for $$1,210,000.$ Suppose you think it is likely that expected sales will be revised upward to $8,000$ units if the first year is a success and revised downward to $3,600$ units if the first year is not a success.

If success and failure are equally likely, what is the NPV of the project? Consider the possibility of abandonment in answering. $($Do not round intermediate calculations and round your answer to $2$ decimal places, e$.$g$.,32\mathrm{.}16.)$

b$.$

What is the value of the option to abandon? $($Do not round intermediate calculations and round your answer to $2$ decimal places, e$.$g$.,32\mathrm{.}16.)$