You are a consultant to a large manufacturing corporation considering a project with the following net after-tax cash flows (in millions of dollars):

Years from Now: 0, 1-9, 10

After-Tax CF: -29, 15, 30

The project's beta is 1.8. Assumingr_f= 6% andE(r_M)= 16%

a.What is the net present value of the project?

Net present value_____ million (round to 2 decimal places)

b.What is the highest possible beta estimate for the project before its NPV becomes negative?

Highest possible beta value ______ (round to 2 decimal places)