Q&A Hero

Q: The market environment of business includes ________. a) social, political, and legal arrangements that structure interactions in conjunction with markets and contracts b) interactions between firms, suppliers, and customers that are governed by markets and contracts c) interactions between the firm and individuals, and interest groups that are intermediated by private institutions d) interactions between the firm and government entities, and the public that are intermediated by public institutions

Q: The progress of an issue is shaped by the actions of firms and other interests and by the characteristics of the institutions in whose arenas the issue is addressed.

Q: All nonmarket issues pass through the five stages of the nonmarket issue life cycle.

Q: As an issue progresses through its life cycle, managements range of discretion in addressing the issue correspondingly increases.

Q: The first step that a nonmarket issue passes through is issue identification.

Q: The nonmarket issue life cycle is a theory that relates the stage of development of an issue to its impact on a firm.

Q: One of the approaches to effectively manage nonmarket issues is to respond to nonmarket issues only when they are strong enough to force the firm to act.

Q: Change in the nonmarket environment does not come from market forces.

Q: Renewed confidence in markets and the failure of socialist economic systems spurred a wave of privatization in both developed and developing countries.

Q: Nonmarket issues come from both external forces and the firms actions.

Q: All institutions represent a set of countries.

Q: Institutions are not unitary bodies.

Q: Institutions include only principal government institutions and cannot be established by private parties.

Q: Nongovernmental institutions include the news media that provides information to society as well as public sentiment composed of societal expectations and norms of behavior that arise from ethics and culture.

Q: Information is the basic unit of analysis and the focus of nonmarket action.

Q: The nonmarket environment of a firm is characterized by four Is: independence, individuality, ideas and income.

Q: In the market environment, strategies are intermediated by public and private institutions, whereas in the nonmarket environment, strategies are intermediated by markets.

Q: In the nonmarket environment, legislation, regulation, administrative decisions, and public pressure are the result of competition involving individuals, activists, interest groups, and firms.

Q: In formulating nonmarket strategies, managers may draw on the expertise of lawyers, communications specialists, Washington representatives, and community relations specialists.

Q: Managers do not participate in the implementation of nonmarket strategies.

Q: Nonmarket issues high on firms agendas include environmental protection, health and safety, regulation and deregulation, intellectual property protection, international trade policy, antitrust as well as other issues such as human rights.

Q: Activities in the nonmarket environment may be voluntary, as when the firm cooperates with government officials or an environmental group, or involuntary, as in the case of government regulation or a boycott of a firms product led by an activist group.

Q: The nonmarket environment is characterized by the social, political, and legal arrangements that structure interactions outside of, but in conjunction, with markets and private agreements.

Q: Effective management in the market environment is sufficient for superior performance of the firm over its competitors.

Q: The long-run sustainability of competitive advantage requires managing effectively in the nonmarket environment.

Q: Firms have more control over their future in their nonmarket environment than they have in the markets in which they operate.

Q: Blenman Corporation, based in the United States, arranged a 2-year, $1,000,000 loan to fund a project in Mexico. The loan is denominated in Mexican pesos, carries a 7.50% nominal rate, and requires equal semiannual payments. The exchange rate at the time of the loan was 5.75 pesos per dollar, but it dropped to 5.10 pesos per dollar before the first payment came due. The loan was not hedged in the foreign exchange market. Thus, Blenman must convert U.S. funds to Mexican pesos to make its payments. If the exchange rate remains at 5.10 pesos per dollar through the end of the loan period, what effective annual interest rate will Blenman end up paying on the loan? Do not round the intermediate calculations and round the final answer to two decimal places. a. 21.29% b. 21.86% c. 14.89% d. 22.43% e. 18.84%

Q: 7273 u200b Forward rate, $/C$ = $0.7290 u200b Note that the forward exchange rate gives the number of U.S dollars for 1 Canadian dollar, but the problem asks for the number of Canadian dollars per U.S. dollar. So, we need the inverse of the number above. u200b Forward exchange rate C$/$ = 1/Forward exchange rate, $/C$ Forward exchange rate C$/$ = 1.3717 LOCAL STANDARDS: United States - OH - Default City - Tier 2: - Capital structure

Q: Suppose in the spot market 1 U.S. dollar equals 1.3750 Canadian dollars. 6-month Canadian securities have an annualized return of 6.00% (and thus a 6-month periodic return of 3.00%). 6-month U.S. securities have an annualized return of 6.50% and a periodic return of 3.25%. If interest rate parity holds, what is the U.S. dollar-Canadian dollar exchange rate in the 180-day forward market? In other words, how many Canadian dollars are required to purchase one U.S. dollar in the 180-day forward market? Do not round the intermediate calculations and round the final answer to four decimal places. a. 1.5774 b. 1.3854 c. 1.6460 d. 1.3717 e. 1.1111

Q: One year ago, a U.S. investor converted dollars to yen and purchased 100 shares of stock in a Japanese company at a price of 3,150 yen per share. The stock's total purchase cost was 315,000 yen. At the time of purchase, in the currency market 1 yen equaled $0.00952. Today, the stock is selling at a price of 3,465 yen per share, and in the currency market $1 equals 135 yen. The stock does not pay a dividend. If the investor were to sell the stock today and convert the proceeds back to dollars, what would be his realized return on his initial dollar investment from holding the stock? a. 11.38% b. 14.41% c. 18.01% d. 11.24% e. 11.96%

Q: A box of candy costs 28.80 Swiss francs in Switzerland and $21.50 in the United States. Assuming that purchasing power parity (PPP) holds, how many Swiss francs are required to purchase one U.S. dollar? Do not round the intermediate calculations and round the final answer to four decimal places. a. 1.3931 b. 1.2056 c. 1.3395 d. 1.5137 e. 1.1922

Q: A product sells for $750 in the United States. The spot exchange rate is $1 to 1.67 Swiss francs. If purchasing power parity (PPP) holds, what is the price of the product in Switzerland? a. 1,277.55 b. 1,528.05 c. 1,465.43 d. 1,252.50 e. 1,315.13

Q: Suppose 6 months ago a Swiss investor bought a 6-month U.S. Treasury bill at a price of $9,708.74, with a maturity value of $10,000.00. The exchange rate at that time was 1.435 Swiss francs per dollar. Today, at maturity, the exchange rate is 1.324 Swiss francs per dollar. What is the annualized rate of return to the Swiss investor? Do not round the intermediate calculations and round the final answer to two decimal places. a. 11.62% b. 9.93% c. 10.03% d. 9.74% e. 8.94%

Q: Suppose hockey skates sell in Canada for 114 Canadian dollars, and 1 Canadian dollar equals 0.71 U.S. dollar. If purchasing power parity (PPP) holds, what is the price of hockey skates in the United States? a. $65.56 b. $87.42 c. $89.03 d. $101.18 e. $80.94

Q: Suppose 90-day investments in Britain have a 6.00% annualized return and a 1.50% quarterly (90-day) return. In the U.S., 90-day investments of similar risk have a 4.00% annualized return and a 1.00% quarterly (90-day) return. In the 90-day forward market, 1 British pound equals $1.85. If interest rate parity holds, what is the spot exchange rate ($/)? Do not round the intermediate calculations and round the final answer to four decimal places. a. $1.8592 b. $2.1380 c. $1.8963 d. $2.2310 e. $1.9893

Q: Suppose a U.S. firm buys $200,000 worth of television tubes from a Mexican manufacturer for delivery in 60 days with payment to be made in 90 days (30 days after the goods are received). The rising U.S. deficit has caused the dollar to depreciate against the peso recently. The current exchange rate is 5.52 pesos per U.S. dollar. The 90-day forward rate is 5.45 pesos/dollar. The firm goes into the forward market today and buys enough Mexican pesos at the 90-day forward rate to completely cover its trade obligation. Assume the spot rate in 90 days is 5.30 Mexican pesos per U.S. dollar. How much in U.S. dollars did the firm save by eliminating its foreign exchange currency risk with its forward market hedge? Do not round the intermediate calculations and round the final answer to the nearest cent. u200b a. $4,758.46 b. $5,733.08 c. $6,478.38 d. $6,650.37 e. $5,905.07

Q: Stover Corporation, a U.S. based importer, makes a purchase of crystal glassware from a firm in Switzerland for 39,960 Swiss francs, or $24,000, at the spot rate of 1.665 Swiss francs per dollar. The terms of the purchase are net 90 days, and the U.S. firm wants to cover this trade payable with a forward market hedge to eliminate its exchange rate risk. Suppose the firm completes a forward hedge at the 90-day forward rate of 1.682 Swiss francs. If the spot rate in 90 days is actually 1.609 Swiss francs, how much in U.S. dollars will the U.S. firm have saved or lost by hedging its exchange rate exposure? Do not round the intermediate calculations and round the final answer to the nearest cent. a. $905.41 b. $937.75 c. $1077.87 d. $1,120.98 e. $1,261.11

Q: Suppose one British pound can purchase 1.74 U.S. dollars today in the foreign exchange market, and currency forecasters predict that the U.S. dollar will depreciate by 12.00% against the pound over the next 30 days. How many dollars will a pound buy in 30 days? a. $2.1047 b. $2.2411 c. $1.6370 d. $1.9488 e. $2.2996

Q: If the spot rate of the Israeli shekel is 5.51 shekels per dollar and the 180-day forward rate is 5.68 shekels per dollar, then the forward rate for the Israeli shekel is selling at a(n) ______________ to the spot rate. a. 3.12% premium b. 2.41% premium c. 3.21% discount d. 3.09% discount e. 3.15% discount

Q: Suppose one year ago, Hein Company had inventory in Britain valued at 229,000 pounds. The exchange rate for dollars to pounds was 1 = 2.00 U.S. dollars. This year the exchange rate is 1 = 1.82 U.S. dollars. The inventory in Britain is still valued at 229,000 pounds. What is the U.S. dollar gain or loss in inventory value as a result of the change in exchange rates? a. -$41,220.00 b. -$50,700.60 c. -$36,273.60 d. -$47,403.00 e. -$47,815.20

Q: In 1985, a given Japanese imported automobile sold for 1,476,000 yen, or $8,200. If the car still sold for the same amount of yen today but the current exchange rate is 138 yen per dollar, what would the car be selling for today in U.S. dollars? a. $11,979 b. $8,450 c. $10,375 d. $10,696 e. $11,444

Q: A currency trader observes the following quotes in the spot market: 1 U.S. dollar = 10.875 Mexican pesos 1 British pound = 8.750 Danish krone 1 British pound = 1.65 U.S. dollars Given this information, how many Mexican pesos can be purchased for 1 Danish krone? a. 1.8251 b. 1.8456 c. 2.4403 d. 2.1532 e. 2.0507

Q: A currency trader observes the following quotes in the spot market: 1 U.S. dollar = 1.28 Japanese yen 1 British pound = 2.25 Swiss francs 1 British pound = 1.65 U.S. dollars Given this information, how many yen can be purchased for 1 Swiss franc? Do not round the intermediate calculations and round the final answer to four decimal places. a. 0.8354 b. 1.1733 c. 0.9762 d. 0.9199 e. 0.9387

Q: Suppose that currently, 1 British pound equals 1.98 U.S. dollars and 1 U.S. dollar equals 1.90 Swiss francs. How many Swiss francs are needed to purchase 1 pound? a. 3.5739 b. 3.8372 c. 4.4015 d. 2.8591 e. 3.7620

Q: Suppose the exchange rate between U.S. dollars and Swiss francs is SF 1.41 = $1.00, and the exchange rate between the U.S. dollar and the euro is $1.00 = 0.45 euro. What is the cross rate of Swiss francs to euros? (In other words, how many Swiss francs are needed to purchase one euro?) Do not round the intermediate calculations and round the final answer to four decimal places. u200b a. 3.0393 b. 3.6973 c. 3.1333 d. 2.9767 e. 2.7887

Q: Suppose DeGraw Corporation, a U.S. exporter, sold a solar heating station to a Japanese customer at a price of 143.5 million yen, when the exchange rate was 140.0 yen per dollar. In order to close the sale, DeGraw agreed to make the bill payable in yen, thus agreeing to take some exchange rate risk for the transaction. The terms were net 6 months. If the yen fell against the dollar such that one dollar would buy 154.4 yen when the invoice was paid, what dollar amount would DeGraw actually receive after it exchanged yen for U.S. dollars? a. $929,404.15 b. $957,286.27 c. $1,031,638.60 d. $910,816.06 e. $938,698.19

Q: Suppose a foreign investor who holds tax-exempt Eurobonds paying 7.25% is considering investing in an equivalent-risk domestic bond in a country with a 28.00% withholding tax on interest paid to foreigners. If 7.25% after-tax is the investor's required return, what before-tax rate would the domestic bond need to pay to provide the required after-tax return? a. 8.46% b. 7.65% c. 10.37% d. 8.56% e. 10.07%

Q: Suppose 144 yen could be purchased in the foreign exchange market for one U.S. dollar today. If the yen depreciates by 13.0% tomorrow, how many yen could one U.S. dollar buy tomorrow? a. 200.1456 b. 161.0928 c. 170.8560 d. 162.7200 e. 180.6192

Q: If one U.S. dollar sells for 0.40 British pound, how many dollars should one British pound sell for? a. 2.7500 b. 1.9750 c. 2.1250 d. 2.3250 e. 2.5000

Q: If one U.S. dollar buys 0.61 euro, how many dollars can you purchase for one euro? a. 1.4426 b. 1.5574 c. 1.6393 d. 1.9672 e. 2.0000

Q: If one British pound can purchase $2.00 U.S. dollars, how many British pounds can one U.S. dollar buy? a. 0.5050 b. 0.4400 c. 0.3950 d. 0.5000 e. 0.5250

Q: If one U.S. dollar buys 1.69 Canadian dollars, how many U.S. dollars can you purchase for one Canadian dollar? a. 0.5266 b. 0.5503 c. 0.6864 d. 0.6805 e. 0.5917

Q: If one Swiss franc can purchase 0.80 U.S. dollar, how many Swiss francs can one U.S. dollar buy? a. 1.5250 b. 1.2500 c. 1.4500 d. 1.4875 e. 1.2250

Q: Blenman Corporation, based in the United States, arranged a 2-year, $1,000,000 loan to fund a project in Mexico. The loan is denominated in Mexican pesos, carries a 7.00% nominal rate, and requires equal semiannual payments. The exchange rate at the time of the loan was 5.75 pesos per dollar, but it dropped to 5.10 pesos per dollar before the first payment came due. The loan was not hedged in the foreign exchange market. Thus, Blenman must convert U.S. funds to Mexican pesos to make its payments. If the exchange rate remains at 5.10 pesos per dollar through the end of the loan period, what effective annual interest rate will Blenman end up paying on the loan? Do not round the intermediate calculations and round the final answer to two decimal places. a. 14.24% b. 17.34% c. 18.08% d. 17.53% e. 18.26%

Q: 6452 u200b Forward rate, $/C$ = $0.6467 u200b Note that the forward exchange rate gives the number of U.S dollars for 1 Canadian dollar, but the problem asks for the number of Canadian dollars per U.S. dollar. So, we need the inverse of the number above. u200b Forward exchange rate C$/$ = 1/Forward exchange rate, $/C$ Forward exchange rate C$/$ = 1.5462 LOCAL STANDARDS: United States - OH - Default City - Tier 2: - Capital structure

Q: Suppose in the spot market 1 U.S. dollar equals 1.5500 Canadian dollars. 6-month Canadian securities have an annualized return of 6.00% (and thus a 6-month periodic return of 3.00%). 6-month U.S. securities have an annualized return of 6.50% and a periodic return of 3.25%. If interest rate parity holds, what is the U.S. dollar-Canadian dollar exchange rate in the 180-day forward market? In other words, how many Canadian dollars are required to purchase one U.S. dollar in the 180-day forward market? Do not round the intermediate calculations and round the final answer to four decimal places. a. 1.9019 b. 1.5308 c. 1.2525 d. 1.5462 e. 1.1597

Q: One year ago, a U.S. investor converted dollars to yen and purchased 100 shares of stock in a Japanese company at a price of 3,150 yen per share. The stock's total purchase cost was 315,000 yen. At the time of purchase, in the currency market 1 yen equaled $0.00952. Today, the stock is selling at a price of 3,465 yen per share, and in the currency market $1 equals 90 yen. The stock does not pay a dividend. If the investor were to sell the stock today and convert the proceeds back to dollars, what would be his realized return on his initial dollar investment from holding the stock? a. 28.67% b. 28.38% c. 33.21% d. 26.40% e. 32.93%

Q: A box of candy costs 28.80 Swiss francs in Switzerland and $20.00 in the United States. Assuming that purchasing power parity (PPP) holds, how many Swiss francs are required to purchase one U.S. dollar? Do not round the intermediate calculations and round the final answer to four decimal places. a. 1.7280 b. 1.5408 c. 1.4400 d. 1.0800 e. 1.4112

Q: A product sells for $750 in the United States. The spot exchange rate is $1 to 1.54 Swiss francs. If purchasing power parity (PPP) holds, what is the price of the product in Switzerland? a. 970.20 b. 1,270.50 c. 1,258.95 d. 1,155.00 e. 1,085.70

Q: Suppose 6 months ago a Swiss investor bought a 6-month U.S. Treasury bill at a price of $9,708.74, with a maturity value of $10,000.00. The exchange rate at that time was 1.323 Swiss francs per dollar. Today, at maturity, the exchange rate is 1.324 Swiss francs per dollar. What is the annualized rate of return to the Swiss investor? Do not round the intermediate calculations and round the final answer to two decimal places. a. 6.46% b. 6.16% c. 4.92% d. 6.65% e. 6.71%

Q: Suppose hockey skates sell in Canada for 132 Canadian dollars, and 1 Canadian dollar equals 0.71 U.S. dollar. If purchasing power parity (PPP) holds, what is the price of hockey skates in the United States? a. $81.54 b. $117.15 c. $106.84 d. $104.97 e. $93.72

Q: Suppose 90-day investments in Britain have a 6.00% annualized return and a 1.50% quarterly (90-day) return. In the U.S., 90-day investments of similar risk have a 4.00% annualized return and a 1.00% quarterly (90-day) return. In the 90-day forward market, 1 British pound equals $1.50. If interest rate parity holds, what is the spot exchange rate ($/)? Do not round the intermediate calculations and round the final answer to four decimal places. a. $1.5074 b. $1.7788 c. $1.4773 d. $1.7637 e. $1.6280

Q: Suppose a U.S. firm buys $200,000 worth of television tubes from a Mexican manufacturer for delivery in 60 days with payment to be made in 90 days (30 days after the goods are received). The rising U.S. deficit has caused the dollar to depreciate against the peso recently. The current exchange rate is 5.62 pesos per U.S. dollar. The 90-day forward rate is 5.45 pesos/dollar. The firm goes into the forward market today and buys enough Mexican pesos at the 90-day forward rate to completely cover its trade obligation. Assume the spot rate in 90 days is 5.30 Mexican pesos per U.S. dollar. How much in U.S. dollars did the firm save by eliminating its foreign exchange currency risk with its forward market hedge? Do not round the intermediate calculations and round the final answer to the nearest cent. u200b a. $5,545.09 b. $5,836.94 c. $4,377.70 d. $5,778.57 e. $7,121.07

Q: Stover Corporation, a U.S. based importer, makes a purchase of crystal glassware from a firm in Switzerland for 39,960 Swiss francs, or $24,000, at the spot rate of 1.665 Swiss francs per dollar. The terms of the purchase are net 90 days, and the U.S. firm wants to cover this trade payable with a forward market hedge to eliminate its exchange rate risk. Suppose the firm completes a forward hedge at the 90-day forward rate of 1.682 Swiss francs. If the spot rate in 90 days is actually 1.622 Swiss francs, how much in U.S. dollars will the U.S. firm have saved or lost by hedging its exchange rate exposure? Do not round the intermediate calculations and round the final answer to the nearest cent. a. $1,001.85 b. $773.36 c. $878.82 d. $940.34 e. $817.30

Q: Suppose one British pound can purchase 1.88 U.S. dollars today in the foreign exchange market, and currency forecasters predict that the U.S. dollar will depreciate by 12.00% against the pound over the next 30 days. How many dollars will a pound buy in 30 days? a. $1.8950 b. $2.5688 c. $1.9582 d. $2.1056 e. $2.4004

Q: If the spot rate of the Israeli shekel is 5.51 shekels per dollar and the 180-day forward rate is 5.77 shekels per dollar, then the forward rate for the Israeli shekel is selling at a(n) ______________ to the spot rate. a. 5.52% premium b. 5.47% premium c. 5.71% discount d. 4.72% discount e. 3.63% discount

Q: Suppose one year ago, Hein Company had inventory in Britain valued at 232,000 pounds. The exchange rate for dollars to pounds was 1 = 2.00 U.S. dollars. This year the exchange rate is 1 = 1.82 U.S. dollars. The inventory in Britain is still valued at 232,000 pounds. What is the U.S. dollar gain or loss in inventory value as a result of the change in exchange rates? a. -$41,760.00 b. -$45,936.00 c. -$42,177.60 d. -$35,496.00 e. -$46,353.60

Q: In 1985, a given Japanese imported automobile sold for 1,476,000 yen, or $8,200. If the car still sold for the same amount of yen today but the current exchange rate is 149 yen per dollar, what would the car be selling for today in U.S. dollars? a. $8,816 b. $10,798 c. $9,708 d. $9,906 e. $12,184

Q: A currency trader observes the following quotes in the spot market: 1 U.S. dollar = 10.875 Mexican pesos 1 British pound = 7.250 Danish krone 1 British pound = 1.65 U.S. dollars Given this information, how many Mexican pesos can be purchased for 1 Danish krone? a. 1.8810 b. 2.3018 c. 2.2275 d. 2.4503 e. 2.4750

Q: A currency trader observes the following quotes in the spot market: 1 U.S. dollar = 1.21 Japanese yen 1 British pound = 2.25 Swiss francs 1 British pound = 1.65 U.S. dollars Given this information, how many yen can be purchased for 1 Swiss franc? Do not round the intermediate calculations and round the final answer to four decimal places. a. 1.0825 b. 0.7897 c. 0.7631 d. 0.6921 e. 0.8873

Q: Suppose that currently, 1 British pound equals 1.98 U.S. dollars and 1 U.S. dollar equals 1.65 Swiss francs. How many Swiss francs are needed to purchase 1 pound? a. 2.7116 b. 3.5937 c. 4.0184 d. 3.7571 e. 3.2670

Q: Suppose the exchange rate between U.S. dollars and Swiss francs is SF 1.41 = $1.00, and the exchange rate between the U.S. dollar and the euro is $1.00 = 0.80 euro. What is the cross rate of Swiss francs to euros? (In other words, how many Swiss francs are needed to purchase one euro?) Do not round the intermediate calculations and round the final answer to four decimal places. u200b a. 1.4100 b. 1.8859 c. 1.7625 d. 1.3395 e. 1.7801

Q: Suppose DeGraw Corporation, a U.S. exporter, sold a solar heating station to a Japanese customer at a price of 142.0 million yen, when the exchange rate was 140.0 yen per dollar. In order to close the sale, DeGraw agreed to make the bill payable in yen, thus agreeing to take some exchange rate risk for the transaction. The terms were net 6 months. If the yen fell against the dollar such that one dollar would buy 154.4 yen when the invoice was paid, what dollar amount would DeGraw actually receive after it exchanged yen for U.S. dollars? a. $919,689.12 b. $993,264.25 c. $1,030,051.81 d. $744,948.19 e. $938,082.90

Q: Suppose a foreign investor who holds tax-exempt Eurobonds paying 7.00% is considering investing in an equivalent-risk domestic bond in a country with a 28.00% withholding tax on interest paid to foreigners. If 7.00% after-tax is the investor's required return, what before-tax rate would the domestic bond need to pay to provide the required after-tax return? a. 8.46% b. 10.40% c. 11.96% d. 7.29% e. 9.72%

Q: Suppose 144 yen could be purchased in the foreign exchange market for one U.S. dollar today. If the yen depreciates by 6.0% tomorrow, how many yen could one U.S. dollar buy tomorrow? a. 180.1152 b. 158.7456 c. 154.1664 d. 152.6400 e. 189.2736

Q: If one U.S. dollar sells for 0.41 British pound, how many dollars should one British pound sell for? a. 3.0000 b. 1.8293 c. 2.6585 d. 2.3171 e. 2.4390

Q: If one U.S. dollar buys 0.67 euro, how many dollars can you purchase for one euro? a. 1.6567 b. 1.1493 c. 1.4925 d. 1.3134 e. 1.4478

Q: If one British pound can purchase $2.30 U.S. dollars, how many British pounds can one U.S. dollar buy? a. 0.5348 b. 0.4174 c. 0.3391 d. 0.4348 e. 0.4609

Q: If one U.S. dollar buys 1.58 Canadian dollars, how many U.S. dollars can you purchase for one Canadian dollar? a. 0.7722 b. 0.6646 c. 0.7532 d. 0.5253 e. 0.6329

Q: If one Swiss franc can purchase 0.80 U.S. dollar, how many Swiss francs can one U.S. dollar buy? a. 1.0375 b. 1.2500 c. 1.2250 d. 1.0500 e. 1.5375