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GHI Inc. is considering a 3-yr. natural resources project in Mongolia that will result in net cash flows of MNT 750 million at the end

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GHI Inc. is considering a 3-yr. natural resources project in Mongolia that will result in net cash flows of MNT 750 million at the end of each of the 3 years. (MNT = Mongolian Tugrik, the currency of Mongolia.) The Mongolian government, however, requires that all funds be retained in Mongolia for the entire 3 year period, after which they can be remitted to the US home office. Withheld funds can be invested in the Mongolian Money at an annual return of 14%. The estimated cost to initiate the project is USD 975,000. Further, GHI requires a return of 25% on projects in Mongolia and expects the current exchange rate of MNT 2055/USD to hold for the duration of the project. WHAT IS THE BREAKEVEN SALVAGE VALUR (IN MNT) REQUIRED TO INITIATE THE PROJECT

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