Lakonishok Equipment has an investment opportunity in Europe. The project costs

$15,450,000$ and is expected to produce cash flows of $4,050,000$ in Year $1,$

$5,050,000$ in Year $2,$ and $5,450,000$ in Year $3.$ The current spot exchange rate is

$$.\frac{74}{}$ and the current risk$-$free rate in the United States is $2\mathrm{.}9$ percent, compared to that

in euroland of $2\mathrm{.}1$ percent. The appropriate discount rate for the project is estimated to

be $9$ 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 $9,950,000.$

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 of dollars, rounded to $2$ decimal

places, e$.$g$.,1,234,567\mathrm{.}89.)$

Answer is complete but not entirely correct.