I've gotten the wrong answer $6$ times now I believe. $d_1=\frac{60+(0\mathrm{.}045+\frac{0\mathrm{.}04}{2})10}{0\mathrm{.}2\sqrt[\phantom{2}]{?}(10)}$

$d_1=1\mathrm{.}46$

This right here does equal $1,46.$ Not even near it to be completely honest. Is it a bot conducting these questions or what is going on$?$ If you don't know the answer, dont answer it$.$

The full question is:

You are analyzing a capital budgeting project. The project is expected to have a PV of cash inflows of $$295$ million and will cost $$250$ million $($in present value dollars$)$ to take on$.$ You have done a simulation of the project cashflows and the simulation yields a variance in present value of cash inflows of $0\mathrm{.}04.$ You have the rights to this project for the next $10$ years, during which period you have to pay $$11$ million a year to retain the project rights. The $10-$year treasury bond rate is $4\mathrm{.}5\%.$

a$.$ What is the value of the project as an option?

b$.$ What is the difference in the project's value from option pricing and traditional NPV$?$