would generate annual after-tax cash fows of $4 million per vear during Years 1, 2, and 3. However, there is a 50s charice that X would be less successful and would generate after: tax cach nows of only $1 million per year for the 3 years. If Project X is hugely successful, it would open the door to ancther iovestment, Project Y, which would require an after-tax. outiay of $13 miltion at the end of Year 2. Project Y would then be sold to another compamy netting $26 milion after taxes at the end of Year 3,5inghs WACC is 14%. a. If the company does not consider feal options, what is Project X's expected NPV? Enter your antwers in mations. Far example, an answer of $10,550,000 should be entered as 10.55. Negative value, if any, should be indicated by a minus sign, Do not round intermediate calculations. Round your answer to three decimal places. s milion b. What is X's expected NiPV with the growth option? Enter your answers in miltians. For example, an answer of $10,550,000 should be entered as 10.55 . Negative value, if any, should be indicated by a minus sign, Do not round intermediate calculations. Round your answer to three decimal places. 5. milion C. What is the value of the growth option? Enter your answers in millions. For example, an answer ef $10,550,000 should be entered as 10,55 . Negoteve value, if any, should be indicated by a minus sign. Do not round intermediate calculations. Round your answer to three decimal places: s million