Central Manufacturing (Cemco) of Wichita Falls, Texas is evaluating a proposal to purchase a 400,000 TPY (tons per year) 8-32mm Hot Rebar Rolling Mill located in Wroclaw, Poland. The mill will allow the firm to profit from the ongoing construction boom in the rapidly growing Polish economy. The rolling mill can be purchased at a cost of 950 million Polish zloty (Z950,000,000) payable immediately. The rolling mill would generate after-tax cash flows of Z475 million (475 million Polish zloty) per year during the first two years of operations (at the end of years 1 and 2). The project is expected to generate after-tax cash flows of Z 500 million at the end of year 3, the final year of the projects life. The spot exchange rate between the dollar and the Polish zloty is Z3.8000/$1 (3.80 zloty per $1.00). The risk-free US interest rate is 2.0 percent per year, while the risk-free zloty-denominated interest rate is 5.0 percent. Assuming that the firm has a required return of 10 percent and that the after-tax cash flows from foreign subsidiaries are not taxed in the US, determine Cemcos dollar-denominated NPV from investing in the proposed project.