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(CHAPTER 21) You want to invest in a project in Wonderand. The project has an initial cost of W721,000 and is expected to produce cash

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(CHAPTER 21) You want to invest in a project in Wonderand. The project has an initial cost of W721,000 and is expected to produce cash inflows of W309,000 a year for 3 years. The project will be worthless after that. The expected inflation rate in Wonderland is 2.5 while it is 4.5% in the U.S. The applicable interest rate for a project like this in Wonderland is 12%. The current spot exchange rate is W1 - 52.951 What is the Net Present Value of this project in dollars? Cincrease decimal places for any intermediate calculations, from the default 2 to 6 or higher. Only round your final answer to TWO decimal places for example, 10.000 23. DO NOT US currency units in your answer.)

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