You want to invest in a project in Canada that has an initial cost of C$1,500,000 and is expected to produce cash inflows of C$500,000 a year for three years. The project will be worthless after the three years. The risk-free interest rate in Canada is 5 percent while it is only 2 percent in the U.S. The applicable WACC for the project in Canada is 20 percent. What is the dollar WACC?

A) 10.92%

B) 10%

C) 16.57%

D) 33.33%

E) 23.53%