A US based Multinational Company is considering the establishment of a two$-$year project in Japan with a US$ $8$ million initial investment. The companys cost of capital is $12$ percent. The required rate of return on this project is $18$ percent. The project with no salvage value after two years is expected to generate net cash flows of Yen $12$ million in years $1$ and Yen $30$ million in year $2.$ Assume no taxes and a stable exchange rate of US $ $0\mathrm{.}60$ per Japanese Yen.Required: What is the net present value of the project in dollar terms?