[1/2] A multinational has invested in a project with an initial investment of AUD 1000 million. This project will have the following operation: [table] Year | 0 | 1 | 2 | 3 | 4 Net Investment (AUD, millions) | -1000 | | | | Revenue | | | | | Domestic (AUD, millions) | | 600 | 600 | 600 | 600 Foreign (USD, millions) | | 300 | 300 | 300 | 300 COGS & Other Expenses (AUD, millions) | | 500 | 500 | 500 | 500 [/table] The tax rate is 30% and this project is all-equity financed (no interest expense). The discount rate is 10%. The current spot rate is AUD1.5/USD, and the multinational hedged its currency risks by signing forward contracts at AUD1.4/USD for all four years (1, 2, 3, and 4). What is the (A)NPV of this project in AUD? (2 points) Answer it in a unit of million AUD with two decimal places, if your answer is AUD 12.34 million, answer 12.34.数值题

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