You work for a U.S.-based firm that is considering constructing a manufacturing plant in Singapore. The construction costs are expected to be 10 million Singaporean dollars (SGD). Your firm intends to leave the plant open for two years. During the two years of operation, cash flows are expected to be 3 million SGD and 5 million SGD, respectively. Operating cash flows will begin one year from today and are remitted back to the parent at the end of each year. At the end of the second year, your company expects to sell the plant for 5 million SGD. Your company estimates that an appropriate discount rate for this project is 20%. The current exchange rate is $0.75. Determine the NPV for this project assuming that your firm expects the SGD to appreciate by 10% per year over the life of the project?