Axon expects the approval process will take 7 years to complete. Their projections are as follows:
Phase 1 will take 2 years, cost $10 million, and have a 60% probability of success.
Phase 2 will take 2 years, cost $60 million, and have a 50% probability of success.
Phase 3 and regulatory review will take 3 years, cost $150 million, and have a 70% probability of success.
They assume a discount rate of 30%, 20%, and 15% per year for each of these phases, respectively. Under these assumptions, what is Axon's rNPV? (Note: Your answer should be expressed in units of millions of dollars.)