6. Ibrahim plc is considering a two-year project that has the following probability distribution of returns: Year 1 Return 32,000 40,000 Probability 0.25 0.45 Return 16,000 Year 2 Probability 0.5 32,000 0.5 48,000 0.3 The events in each year are independent of other years (that is, there are no conditional probabilities). An outlay of 60,000 is payable at Time and the other cash flows are receivable at the year ends. The risk- adjusted discount rate is 10.5 per cent. Calculate a). The expected NPV: b). The standard deviation of NPV: c). The probability of the NPV being less than zero assuming a normal distribution of return - (bell shaped and symmetrical about the mean)