Denson Inc. is considering a project which would require a $5 million investment today (t = 0).The after-tax cash flows the factory generates will depend on whether the state imposes a new property tax.There is a 40% probability that the tax will pass.If the tax passes, the factory will produce after-tax cash flows of $700,000 at the end of each of the next 5 years.There is a 60% probability that the tax will not pass.If the tax does not pass, the factory will produce after-tax cash flows of $1,500,000 for the next 5 years.The project has a WACC of 10%.If the factory is unsuccessful, the firm will have the option to abandon the project 1 year from now if the tax passes.If the factory project is abandoned, the firm will receive the expected $700,000 cash flow at t = 1, and the property will be sold netting $4 million (after taxes are considered) at t = 1.Once the project is abandoned, the company would no longer receive any cash inflows from it.What is the project's expected NPV if it can be abandoned?

a.$120,799

b.$250,000

c.$411,708

d.$533,458

e.$686,180