Year o Year 1 Year 2 Year 3 Year 4 S$ to be remitted by subsidiary $$9,000,000 $$9,000,000 $$9,000,000 $$9,000,000 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 6% S$ accumulated by reinvesting funds to be remitted Withholding Tax (10%) S$ remitted after withholding taxes Salvage value S$7,000,000 Exchange rate $0.51 Cash flows to parent 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 $1.98 million About $1.36 million About $2.04 million About $1.75 million