A Canadian subsidiary is remitting CFs to its parent company in the U.S. After withholding tax, the CFs amount to Year 1: C$ 120,000 Year 2: C$ 150,000 Year 3: C$ 200,000 The exchange rate for year 1 is projected to be $ 0.7 / C$, $ 0.66 / C$ for year 2, and $0.62 / C$ for year 3. You have decided to hedge C$ 100,000 each year with forward contracts and forward rate of $ 0.66/ C$. What is the sum of the present value of these cash flows in dollars, if the required rate of return is 11%? Provide your answer rounded to two decimals