Chapman, Inc.'s Mexican subsidiary, V. Gomez Corporation, is expected to pay to Chapman 50 pesos in dividends in 1 year

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Chapman, Inc.'s Mexican subsidiary, V. Gomez Corporation, is
expected to pay to Chapman 50 pesos in dividends in 1 year after
all foreign and U.S. taxes have been subtracted. The exchange rate
in 1 year is expected to be $0.09 per peso. After this, the peso is
expected to depreciate against the dollar at a rate of 3% a year
forever due to the different inflation rates in the United States
and Mexico. The peso-denominated dividend is expected to grow at a
rate of 10% a year indefinitely. Chapman owns 5 million shares of
V. Gomez.
The data has been collected in the Microsoft Excel Online file
below. Open the spreadsheet and perform the required analysis to
answer the question below.
Open spreadsheet
What is the present value of the dividend stream, in dollars,
assuming V. Gomez's cost of equity is 13%? Do not round
intermediate calculations. Round your answer to the nearest
dollar.
$ fill in the blank 2