Havel Robotics Company (a U.S-based firm) is considering establishing a subsidiary in China to assemble industrial robots on January 1 , Year 1 . If Havel makes the investment, it will operate the plant for one year and then sell the building and equipment to Chinese investors. - The initial investment would be $1,000. - Havel will repatriate 100% of the estimated net operating cash flows as dividends which is 3,000. The terminal value is 6,000. The China withholding tax is 10% on dividends and the terminal value. Neither the dividends nor the terminal value will be subject to U.S. income tax. - Havel uses a 16% discount rate. The present value factor is 0.862 for the end of Year 1. - The exchange rate between the RMB and the US\$ is expected to be 6.7=$1 on Jan. 1, Year 1 , and 6.8=$1 on Dec. 31. Year 1 . What is the net present value of the investment from a project perspective? 1,058 47.758 72.300 6,758