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Question 8 (6 points) A project has two stages: testing and production. Testing stage requires an investment of $20 and lasts one year. Right after the testing phase is complete, you may (if you want) start production. Production would require an investment of $500 at the beginning of the production phase. Cash inflows of the production phase depend on the outcome of the testing phase. If testing phase had good outcome, then the cash inflows of the production phase would be $60 per year for 20 years. If testing phase had bad outcome, then the cash inflows of the production phase would be $50 per year for 15 years. Good outcome has the probability of 40% Cost of capital is 5%. What is the NPV of the production phase (stage 1 NPV)? Please round your answer to the first decimal. Your Answer Answer Question 9 (4 points) A project has two stages: testing and production. Testing stage requires an investment of $20 and lasts one year. Right after the testing phase is complete, you may (if you want) start