Welcome back. So, in order to figure out what will happen to the share price, you have to first figure out the value enhancement of the decision which IRRs can't tell you. Luckily, we have enough information to do it. So, let's get started. You want to do the NPV of the decision. Why? Because IRR is not telling you the NPV. And NPV is in dollars. Irr tragedy, is it? It's percentage, alright? So, okay, let's, let's get started. How do you do NPV? Npv is minus I NOT, plus PV of C1, C2, and so on, right? Everybody okay? I've done this formula many times. The good news is what? The good news is if I can make C1, C2 the same and I make it a perpetuity, what does this formula become? C / R, where Ra and which business? Software, because I am going to get into the software business. So, the question is do I know this number? You should know this number. How much money does it take to start this project? 50 billion. Everybody okay? How much value am I creating every year? Cash flows every year? 5.5 million, Remember how did I get this? You've done this when doing the IRR. You just twist now, 5.5 I got very simple, seven million with 50 percent probability, 3.5, five million with 40 percent probability, two. 3.5 + Two is 5.5 and you may lose, you may make no money with ten percent probability so you can ignore that. You know that, but what is Ra and here comes the key thing, what Ra will be used? You'll use the software Ra, not the twelve%. Which is RA for what? We do [inaudible]. So, you'll do 0.101. And now I'm going to fudge a little bit because, I told you I'm not [unknown and 0.101 is going to throw me off a little bit and make me do a calculation. So, I'm saying, let it be approximately ten%, right? So, this is what? Minus 50 million plus 5.5 divided by 0.1 is what? 55 million. You see I fudged a little. That's okay, we are family. Plus five million. You see the coolness of this? So, my value creation is net of my investment. So, don't ever think that your value creation is 55 because 50, it takes 50 million to create 55. So, my net present value is five million. What will happen to the stock price? Very simple. Take the five million and divide by how much? Stock price, share price will go up. S stands for stock by five million, divided by one million, it is five bucks. So, you will see that if the shares were already trading for five bucks, they'll jump up by $five, right? So, there will be a 100 percent increase. [laugh] Do, do you see what, what happened with Facebook, you know? It took off, here there's a reason that the percentage increased in price will be humungous and what's the reason? How much of this new business will be, sorry, how much of software business, which is the new business, will be part of the whole, for the company? Because they'll say, yes to this, it'll be 75 percent of the whole business. So, the impact, relatively speaking, will be huge. So, chances are that the shared price right now was, if, if the delta share increase in share price is five bucks, chances are it should be a big proportion of the new stock price. So, let's take a break, and then do the last question. And the last question will kind of tease out some interesting aspects. And then, what we'll do is we'll wrap up this part of the class, this week, and we'll talk about a few available real world issues that are very important as you implement this. But they require a brand new, kind of, class to kind of deal with those issues or of course. And we, we can talk about some that. See you soon. Bye.