Delta Company, a U$.$S$.$ MNC$,$ Is contemplating making a forelgn capital expenditure in South Africa. The initial cost of the project is ZAR$11,400.$ The annual cash flows over the five$-$year economic life of the project in ZAR are estimated to be $3,420,4,420,5,410,6,400,$ and $7,350.$ The parent firm's cost of capital in dellars is $9\mathrm{.}5$ percent. Long$-$run inflation is forecasted to be $3$ percent per annum in the United States and $7$ percent in South Africa. The current spot forelgn exchange rate is ZAR per USD $=3\mathrm{.}75$

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What is the NPV in dollars if the actual pattern of ZAR$/$USD exchange rates is: $S(0)=3\mathrm{.}75,S(1)=5\mathrm{.}7,S(2)=6\mathrm{.}2,S(3)=7\mathrm{.}2,5(4)=7\mathrm{.}2,$ and $S(5)=7\mathrm{.}5?$

Note: Negative amount should be shown with a minus sign. Do not round the intermediate calculations. Round the final answer to the nearest whole number.

Show less $4$

NPV in USD using actual pattern

$3419$