You are a consultant to a large manufacturing corporation considering a project with the following

net after$-$tax cash flows $($in millions of dollars$)$:

The project's beta is $1\mathrm{.}4.$ Assuming $r_f=5\%$ and $E(r_M)=15\%$

Required:

a$.$ What is the net present value of the project? $($Do not round intermediate calculations. Enter

your answer in millions rounded to $2$ decimal places.$)$

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

not round intermediate calculations. Round your answer to $3$ decimal places.$)$

Highest possible beta value