Higeen Comany is considering the establishment of a subsidiary in Italy. The initial investment required by the parent is JD5,000,000. Higeen would terminate the project after four years. Higeen cost of capital is 13%, all cash flows generated from the project will be remitted to the Jordan at the end of each year. Usted below are the estimated cash flows the Italian subsidiary will generate over the project's lifetime in Euro: Year 1 10,000,000 Year 2 15,000,000 Year 3 17,000,000 Year 4 20,000,000 The current exchange rate of the is JD.135. Higeen exchange rate forecast for the Euro over the project's lifetime is listed below Year 2 Year 3 Year) JD13 Year 4 JD.15 JD.14 JD.12 What is the net present value of the Italian project? 303.848 JOD 1.5803.848 JOD 1048,829 JOD d. None of the above