Mia Caruso Enterprises, a U.S. manufacturer of children's toys, has made a sale in Bulgaria and is expecting a BGN6 million cash inflow in one year. The current spot rate is S= $2.073/BGN and the one-year forward rate is F₁ = $1.9537/BGN. a. What is the present value of Mia Caruso's BGN6 million inflow computed by first discounting the cash flow at the appropriate Bulgarian Lev discount rate of 6%, and then converting the result into dollars? b. What is the present value of Mia Caruso's BGN6 million inflow computed by first converting the cash flow into dollars, and then discounting at the appropriate dollar discount rate of 11%? c. What can you conclude about whether these markets are internationally integrated, based on your answers to parts (a) and (b)? C a. What is the present value of Mia Caruso's BGN6 million inflow computed by first discounting the cash flow at the appropriate Bulgarian Lev discount rate of 6%, and then converting the result into dollars? The present value of Mia Caruso's BGN6 million inflow is $ million. (Round to five decimal places.)