ABC Company, a Canadian MNC, is considering an investment opportunity for a two-year project in Australia. The expected cashflows of the project are AUD 1,000,000 (Australian dollars) in Year One and AUD 2,000,000 in Year Two. The initial investment required is CAD 1,500,000 (Canadian dollars). ABC Companys cost of capital is 15% for this project. Calculate the net present value (NPV) of this project assuming that the exchange rate is expected to be AUD 1 = CAD 0.90 at the end of Year 1, and AUD 1 = CAD 0.92 at the end of Year 2.