21. Investment decisions (S28.4) It is the year 2023 and Pork Barrels Inc. is considering construction of a new barrel plant in Spain. The forecasted cash flows in millions of euros are as follows:

C0 C1 C2 C3 C4 C5

−80 +10 +20 +23 +27 +25 The spot exchange rate is EUR/USD = 1.2. The interest rate in the United States is 8%, and the euro interest rate is 6%. You can assume that pork barrel production is effectively risk-free.

a. Calculate the NPV of the euro cash flows from the project. What is the NPV in dollars?