End of Expected Cash Flow

Year (monopoly)
0 (26,000,000.00)
1 3,000,000.00
2 3,000,000.00
3 3,000,000.00
4 4,000,000.00
5 4,000,000.00
6 4,000,000.00
7 5,000,000.00
8 5,000,000.00
9 5,000,000.00
10 6,000,000.00
11 6,000,000.00
12 6,000,000.00
13 6,000,000.00
14 6,000,000.00
15 6,000,000.00
16 6,000,000.00
17 6,000,000.00
18 6,000,000.00
19 6,000,000.00
 Exchange rate (monopoly to USD dollars) Expected Cash Flow (USD Present Value of
dollars) Cashflows at 16%
1.90 (13,684,210.53) (13,684,210.53)
1.90 1,578,947.37 1,361,161.52
1.90 1,578,947.37 1,173,415.11
1.90 1,578,947.37 1,011,564.75
1.90 2,105,263.16 1,162,718.10
1.90 2,105,263.16 1,002,343.19
1.90 2,105,263.16 864,088.96
1.90 2,631,578.95 931,130.34
1.90 2,631,578.95 802,698.57
1.90 2,631,578.95 691,981.53
1.90 3,157,894.74 715,842.96
1.90 3,157,894.74 617,106.00
1.90 3,157,894.74 531,987.93
1.90 3,157,894.74 458,610.28
1.90 3,157,894.74 395,353.69
1.90 3,157,894.74 340,822.15
1.90 3,157,894.74 293,812.20
1.90 3,157,894.74 253,286.38
1.90 3,157,894.74 218,350.33
1.90 3,157,894.74 188,233.04

If the exchange rate stays at 1.90 per dollar

Net Present Value (669,703)

If monopoly appreciate over the years

Net Present Value (NPV) (669,703.51)

Initial investement
First 3 years (3 * 1578947.37) 4,736,842.11
End of Year Expected Cash Flow (monopoly)

0 (26,000,000)
1 3,000,000
2 3,000,000
3 3,000,000
4 4,000,000
5 4,000,000
6 4,000,000
7 5,000,000
8 5,000,000
9 5,000,000
10 6,000,000
11 6,000,000
12 6,000,000
13 6,000,000
14 6,000,000
15 6,000,000
16 6,000,000
17 6,000,000
18 6,000,000
19 6,000,000

Initial investement
1-3 years (3*3000000)
4-6 years (3*4000000)
7-9 years (3*5000000)
10-19 years (10*6000000)
 Exchange rate
(monopoly to USD Expected Cash Flow Present Value of
dollars) (USD dollars) Cashflows at 16%
1.90 (13,684,210.53) (13,684,210.53)
1.90 1,578,947.37 1,361,161.52
1.90 1,578,947.37 1,173,415.11
1.90 1,578,947.37 1,011,564.75
1.90 2,105,263.16 1,162,718.10
1.90 2,105,263.16 1,002,343.19
1.90 2,105,263.16 864,088.96
1.90 2,631,578.95 931,130.34
1.90 2,631,578.95 802,698.57
1.90 2,631,578.95 691,981.53
1.90 3,157,894.74 715,842.96
1.90 3,157,894.74 617,106.00
1.90 3,157,894.74 531,987.93
1.90 3,157,894.74 458,610.28
1.90 3,157,894.74 395,353.69
1.90 3,157,894.74 340,822.15
1.90 3,157,894.74 293,812.20
1.90 3,157,894.74 253,286.38
1.90 3,157,894.74 218,350.33
1.90 3,157,894.74 188,233.04

(26,000,000) 1.9 (13,684,210.53)

9,000,000 1.9 4,736,842.11
12,000,000 1.9 6,315,789.47
15,000,000 1.9 7,894,736.84
60,000,000 1.9 31,578,947.37
70,000,000 1.9