Lakonishok Equipment has an investment opportunity in Europe. The project costs $12$ million and is expected to produce cash flows of $2\mathrm{.}0$ million in Year $1,2\mathrm{.}4$ million in Year $2,$ and $3\mathrm{.}5$ million in Year $3.$ The current spot exchange rate is $$1\mathrm{.}35/$ and the current risk$-$free rate in the United States is $2\mathrm{.}8$ percent, compared to that in Europe of $2\mathrm{.}0$ percent. The appropriate discount rate for the project is estimated to be $14$ percent, the U$.$S$.$ cost of capital for the company. In addition, the subsidiary can be sold at the end of three years for an estimated $9\mathrm{.}0$ million. What is the NPV of the project?