Grenouille Properties. Grenouille Properties $($U$.$S$.)$ expects to receive cash dividends from a French joint venture over the coming three years. The

first dividend, to be paid one year from now on December $31,$ is expected to be $700,000.$ The dividend is then expected to grow $10\mathrm{.}2\%$ per year over the

following two years. The current exchange rate is $$1\mathrm{.}1728=1\mathrm{.}00.$ Grenouille's weighted average cost of capital is $14\%.$

a$.$ What is the present value of the expected euro dividend stream if the euro is expected to appreciate $4\mathrm{.}20\%$ per annum against the dollar?

b$.$ What is the present value of the expected dividend stream if the euro were to depreciate $2\mathrm{.}80\%$ per annum against the dollar?

a$.$ What is the present value of the expected euro dividend stream if the euro is expected to appreciate $4\mathrm{.}20\%$ per annum against the dollar?

Calculate the dividends in U$.$S$.$ dollars for the next three years below: $($Round to the nearest whole number for the dividends and round to four decimal places for

the exchange rates.$)$