You are considering opening a car dealership. You believe that you have a very narrow window for entering this market. Because of Christmas demand, the time is right today and you believe that exactly a year from now would also be a good opportunity. Your analysis implies that the current value of a car dealership is $6 million and it has a beta of 2. It will cost you $5.2 million to open the dealership. The value of the dealership is volatile - your analysis indicates that the volatility is 40% per year. Suppose the first-year free cash flow is expected to be $520,000 and the one-year risk-free rate of interest is 5%. What is the current value of the asset without the "dividends"? 5.505 million 05.101 million O 4.378 million 3.467 million