$1.$ Louisville Co$.$ is a U$.$S$.$ firm considering a project in Austria which will require an initial cash outlay of $$7$ million. The required rate of return is $18\%.$ The project would generate $2$ million euros in one year from sales to a large corporate customer in Austria. In addition, the company also expects to receive $4$ million euros in one year from sales to other customers in Austria. Louisville's best guess is that the euro$$s spot rate will be $$1\mathrm{.}26$ in one year. Today, the spot rate of the euro is $$1\mathrm{.}40,$ and the one$-$year forward rate of the euro is $$1\mathrm{.}34.$ If Louisville accepts the project, it would hedge all the receivables resulting from sales to the large corporate customer, and none of the expected receivables due to expected sales to other customers. Estimate the net present value $($NPV$)$ of the project.