XYZ Firm (U.S.) expects to receive cash dividends from a European joint venture over the coming...

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XYZ Firm (U.S.) expects to receive cash dividends from a European joint venture over the coming three years. The first dividend, to be paid December 31, 2011, is expected to be 400,000. The dividend is then expected to grow 8.0% per year over the following two years. The current exchange rate is $1.413/. XYZ's weighted average cost of capital is 10%. What is the present value of the expected euro dividend stream if the euro is expected to appreciate 4.00% per annum against the dollar? XYZ Firm (U.S.) expects to receive cash dividends from a European joint venture over the coming three years. The first dividend, to be paid December 31, 2011, is expected to be 400,000. The dividend is then expected to grow 8.0% per year over the following two years. The current exchange rate is $1.413/. XYZ's weighted average cost of capital is 10%. What is the present value of the expected euro dividend stream if the euro is expected to appreciate 4.00% per annum against the dollar?