Year 1 Year 0 Year 2 Year 3 Year 4 SS to be remitted by subsidiary S$9,000,000 $$9,000,000 $$9,000,000 $59,000,000 Due to the blocked funds restriction, the firm is not allowed to remit funds until year 4. The cashflows in Year 1, 2 and 3 have to be reinvested in the host country at 696 SS accumulated by reinvesting funds to be remitted Withholding Tax (1086) SS remitted after withholding taxes Salvage value SS7,000,000 Exchange rate Cash flows to parent SO 51 Initial Investment by parent $12,000,000 The above information is for a firm who is subject to blocked funds restriction, what is the NPV is the discount rate is 12% About $2.04 million About $1.98 million About $1.75 million About $1,36 million