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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):

image text in transcribed 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 1.1 . a. Assuming that rf=7% and E(rM)=15%, 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.) Answer is complete but not entirely correct

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