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$)$:

The project's beta is $1\mathrm{.}4.$

a$.$ Assuming that $r_f=6\%$ and $E(r_M)=14\%,$ 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? $($Round your answer to $2$ decimal

places.$)$