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

Years from Now After$-$Tax Cash Flow

$090$

$11017$

The project's beta is $1\mathrm{.}2.$

Required:

Assuming that rf $=4\%$ and E$($rM$)=11\%,$ what is the net present value of the project?

Note: Do not round intermediate calculations. Enter your answer in millions rounded to $2$ decimal places.

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

Note: Round your answer to $2$ decimal places.