A US MNC has invested in a project in Brazil for three years. 10m Brazilian Real were to be remitted every year for this project for next 3 years. The funds cannot be remitted due to blocked funds and company will have to reinvest it at 4% locally. Withholding tax rate and discount rate are 10% each. The exchange rate will be a constant value of $0.24. Calculate the NPV of this project if parent company invested $5m initially.

		$1,837,002
		-$1,048,710
		$799,392
		-$65,857