Uniqlo Co., Ltd. (Uniqlo) of Japan, a clothing company is currently in the midst of considering launching its second standalone roadside store in Beijing, China. However, due to the uncertainties arising from the current Covid19 pandemic, the management of Uniqlo has decided to re-evaluate the Beijing project with only one year investment horizon and decided on the following: Expected initial outlay required is 20 million in Japanese Yen (JPY); Expected net cash inflow of 5 million in Chinese Yuan (CNY) to be generated by end of one year but with a 50 percent probability that the net cash inflow to reduce to CNY1 million due to business uncertainty in China; Required return on the Beijing project is 25%; and Take 1-year full forward cover on CNY5 million as a precaution measure. Given the one-year forward rate on CNY is JPY12.00 and the expected spot rate in one year on CNY is JPY10.00. (i) As the senior procurement manager of Uniqlo, you are required to reevaluate the feasibility of the Beijing project to Uniqlo by determining the expected value of the net present value of the project. (12 marks) (ii) How will your decision alter if the probability for the reduction in cash inflows to CNY1 million increases to 80 percent?