You Are Analyzing a Very Low-Risk Project with an Initial

You are analyzing a very low-risk project with an initial cost of £120,000.The project is expected to return £40,000 the first year, £50,000 the second year and £60,000 the third and final year.The Current spot rate is £.54.The nominal return relevant to the project is 4 percent in the U.K.and 3 Percent in the U.S.Assume that uncovered interest rate parity exists.What is the net present value Of this project in U.S.dollars?

A) $33,232
B) $34,040
C) $34,067
D) $34,422
E) $35,009