Has anyone attempted the First example to delay the project , My answers are diferent from those worked out in the article ( using DF of 11% ) :
a) NPV without delay + $6.495M
b) With option to delay Pa = $ 34.305 M
d1 = 0.6736 d2 = 0.4013
Call option = $ 10.27M
Anyone got same answers as above ?
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