Assume that Xs Corporation is considering the establishment of a subsidiary in Norway. The initial investment required by the parent is $5,200,000. If the project is undertaken, Xs would terminate the project after four years. Xs cost of capital is 15%, and the project is of the same risk as its' existing projects. All cash flows generated from the project will be remitted to the parent at the end of each year. Listed below are the estimated cash flows the Norwegian subsidiary will generate over the project's lifetime in Norwegian kroner (NOK): Year 1 Year 2 Year 3 Year 4 NOK10,000,000 NOK15,000,000 NOK17,000,000 NOK20,000,000 The current exchange rate of the Norwegian kroner is $0.139. Xs' exchange rate forecast for the Norwegian kroner over the project's lifetime is listed below: Year 1 Year 2 Year 3 Year 4 $0.13 $0.14 $0.12 $0.15 Assume that NOK8,000,000 of the cash flow in year 4 represents the salvage value. Xs is not completely certain that the salvage value will be realized. If no salvage value what's the nearest NPV?