NSA Inc., a U.S. firm, is considering an investment project in England. The current exchange rate is $1.2=1. The firm assumes that the exchange rate will remain the same for the next 3 years. Based on the agreement with the U.K. government, the firm will be able to remit 100% of the cash flows generated from the project, but the government will levy a 10% withholding tax on the remittance. The monetary amounts in the following tables are denominated in the pound. What is the NPV (in the U.S. dollar) of the project? Equipment economic life (year) WACC for the project 3 0.10 Nominal growth rate 0.05 Foreign tax rate (T) 0.40 Initial investment in NWC 100 Cost of equipment 800 Cost of factory building 1,000 Salvage value, equipment 200 Salvage value, factory building 800 Revenue (year 1) 4,000 Fixed cost (year 1) 200 Variable cost (% of revenue) 0.40 Annual depreciation 300 Percentage remittance allowed 100% Withholding tax on remitted funds 0.10 Select one: a. $2,610 b. $2,683 c. $2,648 d. $2,713