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$)$:

$\backslash$table$[[\backslash$table$[[$Years from$],[$Now$]],$After$-$Tax Cash$],[0,$Flow$],[1-10,-40],[,14]]$

The project's beta is $1\mathrm{.}9.$

Required:

a$.$ Assuming that $r_f=6\%$ and $E(r_M)=12\%,$ 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.

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

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

a$.$ Net present value

b$.$ Highest beta