You want to invest in a riskless project in Sweden. The project has an

initial cost of SKr$2\mathrm{.}1$ million and is expected to produce cash inflows

of SKr$810,000$ a year for $3$ years. The project will be worthless after

the first $3$ years. The expected inflation rate in Sweden is $2$ percent

while it is $5$ percent in the U$.$S$.$ A risk$-$free security is paying $6$

percent in the U$.$S$.$ The current spot rate is $$1=$ SKr$7\mathrm{.}55.$ What is the

net present value of this project in Swedish krona using the foreign

currency approach? Assume that the international Fisher effect applies.