Lakonishok Equipment has an investment opportunity in Europe. The project costs $14$ million and is expected to produce cash flows of $2\mathrm{.}3$ million in Year $1,2\mathrm{.}9$ million in Year $2,$ and $3\mathrm{.}8$ million in Year $3.$ The current spot exchange rate is $1\mathrm{.}38/$$ and the current risk$-$free rate in the United States is $3\mathrm{.}2$ percent, compared to that in Europe of $2\mathrm{.}3$ percent. The appropriate discount rate for the project is estimated to be $11$ 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 $9\mathrm{.}3$ million. Use the exact form of interest rate parity in calculating the expected spot rates. What is the NPV of the project in U$.$S$.$ dollars? $($Do not round intermediate calculations and enter your answer in dollars, not in millions, rounded to two decimal places, e$.$g$.,1,234,567\mathrm{.}89)$