1. Add the raster to ArcMap. 2. Open Data Frame > Properties and click the Coordinate System tab. 3. Set the target coordinate system(projection). 4. Click the Transformations button and set the GeographicTransformation. 5. Click OK. The raster will be projected on-the-fly to the data frame's coordinate system. 6. To save the result, right-click on the raster layer. 7. Select Data > Export Data. 8. In the Spatial Reference section, select Data Frame, which is the current option. 9. Set the output cell size properly. 10. Set the output name and format, and click Save.