A multinational corporation is considering establishing a two-year project in Canada with a $30 million initial investment. The firm’s cost of capital is .12. The required rate of return on this project is 0.17. The project is expected to generate cash flows of CA$10,100,000 in Year 1 and CA$29,600,000 in Year 2, excluding the salvage value. Assume no taxes, and a stable exchange rate of $0.53 per CA$ over the next two years. All cash flows are remitted to the parent. What is the break-even salvage value? Show excel calculation.