Chapman, Inc.$\text{'}$s Mexican subsidiary, V$.$ Gomez Corporation, is expected to pay to Chapman $30$ pesos in dividends in $1$ year after all foreign and U$.$S$.$ taxes have been subtracted. The exchange rate in $1$ year is expected to be $$0\mathrm{.}11$ per peso. After this, the peso is expected to depreciate against the dollar at a rate of $5\%$ a year forever due to the different inflation rates in the United States and Mexico. The peso$-$denominated dividend is expected to grow at a rate of $6\%$ a year indefinitely. Chapman owns $20$ million shares of V$.$ Gomez.

The data has been collected in the Microsoft Excel Online file below. Open the spreadsheet and perform the required analysis to answer the question below.

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What is the present value of the dividend stream, in dollars, assuming V$.$ Gomez's cost of equity is $12\%?$ Do not round intermediate calculations. Round your answer to the nearest dollar.

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