Assume that it is now Jan. 2019. AZDT Inc. (US) expects to receive cash dividends from a joint venture in Korea over the next five years. The first dividend of 55m Won will be paid at the end of the year in Dec. 2019. The dividends are then expected to grow at an annual rate of 10% over the following four years. The current exchange rate (W/$) is 1083. AZDT's average weighted cost of capital is 8%. If the dollar is expected to appreciate by 5% per year, then the dollar present value of all the expected dividend stream at the given cost of capital (8%) is equal to: $210,889 O $171239 O $251,309 O $274,725