The US firm Socks and Hats is considering a project in Germany. The cash flows of the project in millions of Euro is:

year	0	1	2
Cash flow ( millions)	-6	4	4

The US cost of capital for Socks and Hats is 11% and the risk of the project has the same risk as that of Socks and Hats. Both the US and German yield curves are flat. The US interest rate is 3% while the German interest rate is 2%. The current exchange rate is $1.20 per 1. Use two different approaches to calculate the NPV of the project in US dollars.