You want to invest in a project in Canada that has an initial cost of $C$$$812,000$ and is expected to produce cash inflows of

C $$340,000$ per year for three years. The project will be worthless after the three years. The expected inflation rate in Canada

is $4$ percent while it is only $3$ percent in the U$.$S$.$ The applicable interest rate for the project in Canada is $12$ percent. Assume

the current spot rate is $C$$$1=$$$\mathrm{.}7874.$ What is the net present value of this project in Canadian dollars?

Multiple Choice

$C$$$4,623$

$C$$$7,528$

$-$C $$2,924$

$-$C$$1,889$

$C$$$6,139$