You are analyzing a capital budgeting project. The project is expected to have a PV of cash inflows of $310 million and will cost $250 million (in present value dollars) to take on. You have done a simulation of the project cashflows and the simulation yields a variance in present value of cash inflows of 0.04. You have the rights to this project for the next 10 years, during which period you have to pay $11 million a year to retain the project rights. The 10-year treasury bond rate is 4.5%. a. What is the value of the project as an option? The value is $ response.) (Round your answer to two decimals. Omit the '$' sign in your b. What is the difference in the project's value from option pricing and traditional NPV? The difference is $ (Round your answer to two decimals. Omit the '$' sign in your response.)