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A professional accountancy institute in the U.K. Is evaluating an investment project overseas--in Eastasia, a politically stable country. The project will cost an initial 2.5 million Eastasian dollars (EA$) and it is expected to earn nominal post-tax cash flows as follows. Year 1 2 3 4 Cash flow(EA$’000) 750 950 1250 1350 The expected inflation rate in Eastasia is 3% a year, and 5% in the U.K. The current spot rate is EA$2 per £1 Sterling. The company requires a sterling return from this project of 16%. The £ Sterling NPV of the project by discounting nominal annual cash flows in £ Sterling is