Return to the Sport Hotel example in the class notes, discussed in class, and in Chapter 9 of the textbook. This quiz question will use the time line and all the figures in this original problem-for example, the costs of building the hotel over three years, the value of the hotel when completed under the two scenarios, and assign as the probability of the city being awarded the franchise the value of 50%. Now originally given at $1 million but instead is $1.455 million. Second, the projected expenditures or outflows in year 2 is not as originally given as $2 milion but instead is $1.545. Third, the probability that the city will be awarded the franchise is not 50% as originally given by instead is 33%. Using these three new values, and incorporating the potential real abandonment option, what would the NPV be at the decision node B on the decision tree? milion Place your answer in millions of dollars using four decimal places. For example, the answer of nine hundred and seventy five thousand would be entered as 0.975. If applicable, indicate negative amounts with a minus sign in front of the number SUBMIT ANSWER att , any probability above 25%, even 26%, leads to acceptance. (17) Solving a Real Option Analysis Using Decision Trees: The Sporthotel example has two decision points. The first is whether or not to start the project, and the second is whether to abandon the project after the first year. In the decision t although time is illustrated moving from the left to the right side of the tree, we ree, we'll e project NPV from the other direction. This is known as backward induction. The first step is to determine the cash flows at C and D complete hotel gives NPV of +$3 million abandon the project gives NPV of -$1 million complete hotel gives NPV of -$3 million abandon project gives NPV of-$1 million franchise is granted C buildB franchise is denied D