OneUSF, a U.S. MNC based in Florida, plans to build a wholly owned manufacturing facility in Italy. The firm's existing operation has already accumulated a net amount of 800,000, which can be used to partially finance the construction cost. Current exchange rate is $1.32/1.00. The long-run U.S. inflation rate per annum is 3 percent. The long-run Eurozone inflation rate per annum is 2.1 percent. The marginal corporate tax rate in Italy and the U.S. is 35%. The accumulated restricted funds were earned under special tax concessions offered during the initial years of the sales operation, and taxed at a marginal rate of 20 percent. If they were repatriated, additional tax at the 35 percent marginal rate would be due, but with the foreign tax credit given for the Italian taxes already paid. What is the present value of the accumulated restricted funds? (Please keep 2 digits in decimals to get the right answer) $198,000 $196,270 $199,500 $150,000