Your R&D division has just synthesized a material that will superconduct electricity at room temperature; you have given the go ahead to try to produce this material commercially. It will take five years to find out whether the material is commercially viable, and you estimate that the probability of success is 26%. Development will cost $10.3 million per year, paid at the beginning of each year of opmert uty.Assume that the cu thck-free intereet years. Assume that the risk-neutral probability of each possible rate is the same. What is the value today of this project? 9 8% or oar and the vield on a nerpetual risk-free bond will be either 12 18 10 2%8.1 %. or 4,9% in five Your R&D division has just synthesized a material that will superconduct electricity at room temperature; you have given the go ahead to try to produce this material commercially. It will take five years to find out whether the material is commercially viable, and you estimate that the probability of success is 26%. Development will cost $10.3 million per year, paid at the beginning of each year of opmert uty.Assume that the cu thck-free intereet years. Assume that the risk-neutral probability of each possible rate is the same. What is the value today of this project? 9 8% or oar and the vield on a nerpetual risk-free bond will be either 12 18 10 2%8.1 %. or 4,9% in five