Grenouille Properties (U.S.) expects to receive cash dividends from a French joint venture over the coming three years. The first dividend to be paid December 30, 2021, is expected to be720,000. The dividend is then expected to grow 10.0% per year over the following two years. The current exchange rate (December 30, 2020) is $1.3603/. Grenouille's weighted average cost of capital is 12%.

What is the present value (in $) of the expected euro dividend stream if the euro is expected to depreciate 3.00% per annum against the dollar?

Expected dividend streams during the time, in uros:

Year 0: - Year 1: - Year 2: - Year 3:

Please enter your solution as: "XXX.XXX"

Exchange Rates during the time, in $:

Year 0: - Year 1: - Year 2: - Year 3:

Please enter your solution as: "X.XXXX"

Dividends during the time, in $:

Year 0: - Year 1: - Year 2: - Year 3:

Please enter your solutions as: "XXX.XXX" and/or X.XXX.XXX"

Present value factor during the time:

Year 0: - Year 1: - Year 2: - Year 3:

Please enter your solution as: "X.XXXX"

Present value of dividends over the year, in $:

Year 0: - Year 1: - Year 2: - Year 3:

Please enter your solutions as: "XXX.XXX"

Cumulative NPV, in $: