5. \& Real Options: Quantitative Problem Flonda Seaside Oil Exploration Company is deciding whether to drili for oil off the northeast coost of Florida. The company estimates that the project would cost sa. a5 million today, The firm estimates that once drilled, the oll will generate positive cash flows of 12.425 million a year at the end of each of the next four years. While the company is fairly confident about its cash fiow forecast, it recognizes that if it waits two years, it would have more information about the local geology as well as the price of oil. Florida Seaside estimates that if it waits two years, the project would cout 55.48 million. Moreover, if it waits two years, there is a 75% chance that the cash flows would be 52.545 million a year foe four years, and there is a 25% chance that the cash fows will be 11.829 million a year for four years. Ascume that all cash fows are discounted at a 915 wacc. If the company chooses to dnill today, what is the project's net present value? Enter your answers in millions. For example, an answer of 510,550,000 should be entered as 10.55. Do not round intermediate calculations. Round your answer to five decimal places. million