QUESTIONS Apex, Inc. is a US-based firm investing in a two-year project in Mexico. The present exchange rate is 17 Mexican pesos per U.S. dollar. It is estimated that Mexico's currency will be devalued in the international market at an average 3.3 % per year relative to the U.S. dollar over the next several years. The estimated before-tax net cash flow in pesos) of the project is a follows: End of Year Net Cash Flow (pesos) 0 900,000 1 480,000 2 720,000 If the U.S. company's MARR is 15% (before taxes) based on the U.S. dollar, what is the present worth (PW) of the project in terms of US dollars? (Enter your answer as a number without the dollar S sign.)