BPress is an American media company that is considering launching some newspapers targetting American expats in Europe. The company is projecting the following sales (in millions of euros) and costs (in millions of dollars). A |B| C | D | E 1 Year 2 Sales ( million) 060 192 211.2 3 Costs ($ million) 0 112 134.4 147.84 3 The project requires a new printing press that costs $150 million to purchase and,. install. After year 3, production will end and the new machine will be scrapped without cost or resale value. The equipment can be depreciated straight to zero over 3 years. The project doesn't require any additional working capital. BPress will hedge exchange rate risk by using forward contracts. The current spot rate is 1.17 dollars per euro. Yield curves are flat in both markets, with American risk-free interest rates at 3% and Euro interest rates at 2%. The company has a weighted average dollar cost of capital of 8% and a marginal tax rate of 20%