ringgit or Philippine pesos, some additional U.S. dollar cash outflows would be necessary, as shown in the above popup table. cost of capital for Doohicky Devices is 15.5%, which project looks more promising? \begin{tabular}{lrrrrrr} Doohicky in Penang (after-tax) & 2012 & 2013 & 2014 & 2015 & 2016 & 2017 \\ \hline Net ringgit cash flows & (26,000) & 7,900 & 6,800 & 7,400 & 9,300 & 8,000 \\ Dollar cash outflows & & (100) & (130) & (170) & (150) & \\ Doohicky in Manila (after-tax) & & & & & & \\ Net peso cash flows & (570,000) & 210,000 & 160,000 & 190,000 & 190,000 & 220,000 \\ Dollar cash outflows & & (80) & (180) & (280) & (380) & \\ \hline \end{tabular}