c. Instead of using decision-tree analysis, use the Black-Scholes model to estimate the value of the growth option. Assume that the variance of the project’s rate of return is 15%. Find the total value of the project with the option to expand—that is, the sum of the original expected value and the growth option. (Hint: You will need to find the expected present value of the additional project’s operating cash flows in order to estimate the current price of the option’s underlying asset.)