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IBM is considering a $20 million investment in Japan. The project is expected to generate 1.8 billion for the next two years. The exchange rate

IBM is considering a $20 million investment in Japan. The project is expected to generate 1.8 billion for the next two years. The exchange rate is 120 /$. The U.S. (risk-free) interest rate is 3% and (risk-free) interest rate is 1.0%. WACC($)=13%. What is the NPV of the project (in $)? Round to the nearest dollar.

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