A Philippine firm wishes to distribute coconut- based food products in the United States. The U. S. distributor demands an up- front payment of USD 75,000 and 12.5 percent of sales revenue. Assume that over a period of four years, the Philippine firm achieves annual revenues of $ 500,000. Assume that all expenses (except distribution costs) amount to 70 percent of revenues. The discount rate for USD cash flows is 12 percent. What is the NPV (USD) to the Philippine firm?