1. Ulysses Inc., a US-based construction company, is considering investing in a 4-year project in Vietnam, funded with 100 million Vietnamese Dong in debt, which will be paid down over the four-year life. You have the following forecasted cashflows (in Vietnamese Dong): 1 2 3 4 Net Income 100.000 120.000 144.00 172.80 50.000 60.000 72.00 86.40 80.000 96.00 115.20 138.24 + Depreciation - Capital Expenditures - Chg in Working Capital - Debt repaid 20.000 24.00 28.80 34.56 25.000 25.000 25.000 25.000 Cash Flow 25.000 35.00 47.00 61.40 For its US projects, Ulysses uses a cost of equity of 9% and a cost of capital of 7.5%, but it believes that the country risk in Vietnam supports an additional risk premium of 3%. If the inflation rate in Vietnamese Dong is 8% and the inflation rate in the US $ is 2%, what is the present value of these cash flows? (3 points)