You work for a U.S.-based firm that is considering constructing a manufacturing plant in Taiwan. The construction costs are expected to be 100 million New Taiwan dollars (TWD). Your firm intends to leave the plant open for two years. During the two years of operation, operating cash flows are expected to be 30 million TWD and 50 million TWD, 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 50 million TWD. Your company estimates that an appropriate discount rate for this project is 20%. The current TWD spot rate is $0.0360. Determine the NPV in U.S. dollars for this project assuming that your firm expects the TWD to appreciate by 10% per year over the life of the project?