The project requires an investment of $AU$$$915,000$ today and is expected to generate cash flows of $AU$$$1,300,000$ at the end of each of the next two years.

The current exchange rate of the U$.$S$.$ dollar against the Australian dollar is $$0\mathrm{.}7811$ per Australian dollar $($AU$$).$

The one$-$year forward exchange rate is $$0\mathrm{.}8096/$ AU$$,$ and the two$-$year forward exchange rate is $$0\mathrm{.}8344/$ AU$$.$

The firm's weighted average cost of capital $($WACC$)$ is $8\%,$ and the project is of average risk.

What is the dollar$-$denominated net present value $($NPV$)$ of this project?

$$1,308,762$

$$1,427,741$

$$1,189,784$

$$1,130,295$

There are three major types of international credit markets. Read the following statement and then indicate which type of international credit marh is being described.

Nitreca Chemicals Inc., a British company, issued U$.$S$.$ dollar$-$denominated bonds in Chicago to fund its U$.$S$.$ operations.