Please answer part B, see attachment for complete question.

Etemadi Amalgamated, a U.S. manufacturing firm, is considering a new project in the euro area. You are in Etemadi's corporate finance department and are responsible for deciding whether to undertake the project. The free cash flows, in euros, are forecast to be the following:

Etemadi Amalgamated, a U.S. manufacturing firm, is considering a new project in the euro area. You are in Etemadi's corporate finance department and are responsible for deciding whether to undertake the project. The free cash flows, in euros, are forecast to be the following: Year 0 1 2 3 4 Free Cash Flow (euro million) 15 9 10 11 12 You know that the spot exchange rate is Upper S=$1.1500/. In addition, the riskfree interest rate on dollars is 4.0%, and the riskfree interest rate on euros is 6.0% (and the yield curve is flat in both currencies). Assume that these markets are internationally integrated and the uncertainty in the FCFs is not correlated with uncertainty in the exchange rate. You determine that the dollar WACC for these cash flows is 8.5%. a. What is the dollar present value of the project? Should Etemadi Amalgamated undertake the project? First, calculate the forward rates. The forward exchange rates for year 1 is $1.1283/. The forward exchange rates for year 2 is $1.1070/. The forward exchange rates for year 3 is $1.0861/. The forward exchange rates for year 4 is $1.0656/. (Round (Round (Round (Round to to to to four four four four decimal decimal decimal decimal places.) places.) places.) places.) Next, you need to find the expected cash flow of the project. The expected dollar cash flow of for year 0 is $ 17.25 million. (Round to four decimal places) The expected dollar cash flow of for year 1 is $ 10.155 million. (Round to four decimal places) The expected dollar cash flow of for year 2 is $ 11.07 million. (Round to four decimal places) The expected dollar cash flow of for year 3 is $ 11.947 million. (Round to four decimal places) The expected dollar cash flow of for year 4 is $ 12.787 million. (Round to four decimal places) Finally, calculate the net present value. The dollar present value of the project is $ 20.0930 million. (Round to four decimal places) Should Etemadi Amalgamated undertake the project? Yes or NO Please answer part B b. Assume that the spot rate is now S=$0.8500/, about 26% lower. What is the new present value of the project in dollars? First, calculate the forward rates. The forward exchange rates for year 1 is $___/. (Round to four decimal places.) The forward exchange rates for year 2 is $___/. (Round to four decimal places.) The forward exchange rates for year 3 is $___/. (Round to four decimal places.) The forward exchange rates for year 4 is $___/. (Round to four decimal places.) Next, you need to find the expected cash flow of the project. The expected dollar cash flow of for year 0 is $___million. (Round to four decimal places) The expected dollar cash flow of for year 1 is $___million. (Round to four decimal places) The expected dollar cash flow of for year 2 is $___million. (Round to four decimal places) The expected dollar cash flow of for year 3 is $___million. (Round to four decimal places) The expected dollar cash flow of for year 4 is $___million. (Round to four decimal places) Finally, calculate the net present value. The dollar present value of the project is $_____ million. (Round to four decimal places) Should Etemadi Amalgamated undertake the project? Etemadi Amalgamated should still or not undertake the project because the net present value is negative or positive