ethe's Funny Hats is considering seling trademarked, orange-haired curly wigs for Universty of Tennessee fookball games. The purchase cost for a 2 -year franchise to seil the wigs is 20,000. If demand is good (40\% probabiuty), then the net cash flows will be $24,000 per year for 2 years. If demand is bad (60\% probability), then the net cash flows wil be 54,000 pe ear for 2 years. Fethe's cost of capital is 10%. Do not round intermediate calculations. a. What is the expected NPV of the preject? Negative value, if any, should be indicated by a minus sign., Round your ansner to the neorest dollac b. If Fethe makes the investment today, then it will hye the option to renew the franchise fee for 2 more years at the end of Year 2 for an additional payment of $20,000. In this case, the cash flows that occurred in Years 1 and 2 will be repeated (so if demand was good in Years 1 and 2 , it will continue to be good in Years 3 and 4 ). Write out the decison tree. Note: The franchse fee poyment at the end of Year 2i known, so it sheuld be discounted at the risk free rate, which is 4%. select the correct decision tree. A C D The korred graph is