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Telstra, an Australian telecommunications company, is considering setting up a telecommunication station in the U.K. for three years. The station would cost GBP 40 million

Telstra, an Australian telecommunications company, is considering setting up a telecommunication station in the U.K. for three years. The station would cost GBP 40 million to build. Telstra expects to receive GBP 10 million, 30 million, and 20 million from year 1 to year 3, respectively. The discount rate is 5% p.a. in the U.K. and 4% p.a. in Australia. The current spot exchange rate is GBP0.50/A

Calculate NPV in million AUD. (Please keep two decimal places. For example, please type in 9.35 in the box if your answer is 9.3456)

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