US Based Company considering DFI in China. Use the following information to calculate the original NPV. All the currency is CHY (YUAN) and exchange rate is given and estimated here.

	Year 0	Year 1	Year 2	Year 3
unit sold		40,000.00	50,000.00	55,000.00
Unit Price		5,000.00	6,000.00	7,000.00
Unlit VC		330.00	360.00	400.00
FC per Year	70,000,000.00
Dep per Year	45,000,000.00
WC borrowed	250,000,000.00	Interest Only Loan: SWAP with WC
Initial Investment	450,000,000.00
Income Tax Rate	33%
Withholding Tax	9%
Borrowing Rate	12%
Salvage Value	400,000,000.00	No Income Tax	No WH Tex
EXH Rate (CHY/USD)	$ 0.140	$ 0.144	$ 0.145	$ 0.138
Discount Rate	20%

Calculate Original NPV