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9 10 points Lakonishok Equipment has an investment opportunity in Europe. The project costs 15 million and is expected to produce cash flows of 2.8 million in Year 1. 3.4 million in Yesr 2, and 3.9 million in Year 3. The current spot exchange rate is $1.43/; and the current risk-free rete in the United States is 2.2 percent, compared to that in Europe of 2.9 percent. The appropriate discount rate for the project is estimated to be 11 percent. the U.S. cost of capital for the company. In addition, the subsidiary can be sold at the end of three years for an estimated 9.3 million. Use the exact form of interest rate pority in calculating the expected spot rates. What is the NPV of the project in U.S. dollars? (Do not round Intermediate calculations and enter your answer in dollars, not in millions, rounded to two decimal places, e.g.. 1.234.567.89) Multiple Choice $903,399.39 $4.920,830.83 $19.996,318.31 $4.031.424.66