Question: A project has three phasesconcept, development, and launchthat are expected to cost $5M, $15M, and $4M, respectively. The likelihoods of success for the three phases

A project has three phasesconcept, development, and launchthat are expected to cost $5M, $15M, and $4M, respectively. The likelihoods of success for the three phases are 0.5, 8, and 0.7, respectively. If the estimated NPV of future earnings is $90M, what is the ECV for the project?

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