Singh Development C0. is deciding whether to proceed with Project X. The after-tax cost would be $8 million in Year 0 . There is a 50% chance that X mould be hugely socoesshal and would generate annual after-tax cash flows of $4 million per year during Years 1,2 , and 3 . However, there is a 50% chance that X would be less successful and would generate atertax cash flows of only $1 million per year for the 3 years. If Project X is hugely successful, it would open the door to another investment, Project Y, which would raquire an atter-Lax outlay of $8 million at the end of Year 2. Project Y would then be sold to another company netting $16 million after taxes at the end of Year 3 . Singh's wicc is 134 . a. If the company does not consider real options, what is Project X's expected NPV? Enter your answers in millions. For example, an answer of \$10, 550, DoO should ber entered as 10.55. Negative value, if any, should be indicated by a minus sign. Do not round intermediate calculations. Round your answer to three decinal places. $ million b. What is X: expected NPV with the growth option? Enter your answers in millions. For example, an answer of \$10, 550,000 should be entered as 10.55. Niegative value, if anv. should be indicated by a minus sign. Do not round intermediate calculations. Round your answer to three decimat places. c. What is the value of the growth option? Enter vour answers in millons. For example, an answer of $10,550,000 should be entered as 10.55 . Negative value, 1 ank shoulit be indicated by a minus sign. Do not round intermediate calculations, Round your answer to three decimal places. s. million s million