Logitech is considering a project to construct a new product. The life of the project will be five years. A survey which cost $$4$ million has shown that the efficiency of the project may be high $($probability $40\%)$ or low $($probability $60\%).$ If the efficiency is high, the sales revenue from operating the new project will be $$600$ million in the first year and then grow at $5\%$ each year. If it is low, the sales revenue will be $250$ million in the first year and then grow at $5\%$ each year.

Variable costs: $35\%$ of sales revenue.

Fixed costs of new project: estimated to be $$20$ million each year, excluding depreciation. The New project will cost $$850$ million and depreciation allowances for tax purposes will be $20\%$ each year on a reducing$-$balance basis.

New project will be scrapped at the end of the project and the scrap proceeds are estimated to be $$30$ million. Any unused depreciation allowance will be immediately applicable when the machine is sold.

Working capital of $$30$ million will be required at the start of the project and after one year this requirement will increase to $$40$ million. All working capital will be recovered at the end of the project. If the project is undertaken, Waltech plans to pay an additional $$15$ million in dividends to its shareholders in each year of the project's life.

The corporation tax rate is $15\%$ and tax is payable in the same year as taxable profit arises.

The CFO determines the risk$-$free rate to be $10\%$ and the market return to be $17\%.$ Based on the movement of the company$$s stock prices, beta is calculated to be $2\mathrm{.}0.$ The company has a pre$-$tax cost of debt of $15\%.$ Market value of equity comprises $70\%$ while market value of debt comprises $30\%$ of capital employed

Use the WACC calculated above to calculate the net present value $($NPV$)$ of the $`$best case' and $`$worst case' outcomes for the logitech new project, assuming investment would occur immediately. What is the expected net present value of the project?