QUESTION 27 Griffith Ltd. has a subsidiary in Japan. The subsidiary reinvests one third of its net cash flows into operations and remits the remainder to the parent. Griffith's expected cash flows from domestic business are $700,000, and the Japanese subsidiary is expected to generate 30 million Japanese yen at the end of the year. The expected value of the yen is $0.013. What are the expected dollar cash flows of Griffith Ltd.?

a.$600,000

b.$800,000

c.$960,000

d.$1,090,000