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Problem:

Assume that last year the Australian dollar was trading at $.5527, the Mexican peso at $.1102, the United Kingdom (British) piund was worth $1.4233. By this year the US dollar value of an Australian dollar was $.7056, the peso was $.0867, and the British pound was $1.8203.

Required:

Question: Calculate the percentage appreciation or depreciation of each of these three currencies between last year and this year.

Note: Provide support for your rationale.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M91170314

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