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Slidell Co. (a U.S. firm) considers a foreign project in which it expects to receive 10 million euros at the end of this year. It

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Slidell Co. (a U.S. firm) considers a foreign project in which it expects to receive 10 million euros at the end of this year. It plans to hedgit receivables of 10 million euros with a forward contract. Today, the spot rate of the euro is $1.25, the one-year forward rate of the euro is presently $1.30, and the expected spot rate of the euro in one year is $1.24. The initiai outlay is $6million. Slidell has a required retum of 15 percent. There is a 30 percent chance that political problems will cause a reduction in foreion business, such that sildell would only recetve 3 mison auros at the end of one year. Determine the expected value of the net present value of this project. Do not round intermediate catculations. Round your answer to the nearest dollar

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