Natural Mosaic. Natural Mosaic Company (U.S.) is considering investing INR58,000,000 in India to create a wholly owned tile manufacturing plant to export to the European market. After five years, the subsidiary would be sold to Indian investors for INR116,000,000. A pro forma income statement for the Indian operation predicts the generation of INR16,000,000 of annual cash flow, is listed in the following table: . The initial investment will be made on December 31, 2021, and cash flows will occur on December 31 st of each succeeding year. Annual cash dividends to Natural Mosaic from India will equal 90% of accounting income. The U.S. corporate tax rate is 21% and the Indian corporate tax rate is 25%. Because the Indian tax rate is greater than the U.S. tax rate, annual dividends paid to Natural Mosaic will not be subject to additional taxes in the United States. There are no capital gains taxes on the final sale. Natural Mosaic uses a weighted average cost of capital of 16% on domestic investments, but will add six percentage points for the Indian investment because of perceived greater risk. Natural Mosaic forecasts the Indian rupee to U.S. dollar exchange rate for December 31st on the next six years are listed in the table: What is the net present value and internal rate of return on this investment? Calculate the cash flows in Indian rupees for years 2021 through 2023 below: (Round to the nearest whole number.) Calculate the cash flows in Indian rupees for years 2024 through 2026 below: (Round to the nearest whole number.) Data table (Click on the following icon in order to copy its contents into a spreadsheet.) (Click on the following icon in order to copy its contents into a spreadsheet.)