A project in South Korea required an initial investment of 2 billion South Korean won. The project is expected to generate net cash flows to the subsidiary of 3 billion and 4 billion Won in two years of operation respectively. The project has no salvage value. The current value of the won is 1100 won per U.S dollar, and the value of the won is expected to remain constant over the next two years.

A) from parent's perspective, what is the NPV of this project if the required rate of return is 13%?

B) repeat the question, expect assume that the value of the won is expected to be 1200 won per U.S dollar after two years. Further assume that the funds are blocked and that the parent company will only be able to remit them to the U.S in two years. How dose this affect the NPV of project?