You have an investment opportunity in Japan. It requires an investment of $ 0.97$0.97million today and will produce a cash flow ofyen 116116million in one year with no risk. Suppose therisk-free interest rate in the United States is 4.7 %4.7%,therisk-free interest rate in Japan is 1.3 %1.3%,and the current competitive exchange rate is yen 110110per dollar. What is the NPV of thisinvestment? Is it a goodopportunity?

What is the NPV of thisinvestment?

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