In 1990, Matsushita bought MCA Inc. for $6.1 billion. At the time of the purchase, the exchange

Question:

In 1990, Matsushita bought MCA Inc. for $6.1 billion. At the time of the purchase, the was about ¥145/$. By the time that Matsushita sold an 80% stake in MCA to Seagram for $5.7 billion in 1995, the yen had appreciated to a rate of about ¥97/$.
a. Ignoring the time value of money, what was Matsushita's dollar gain or loss on its investment in MCA?
b. What was Matsushita's yen gain or loss on the sale?
c. What did Matsushita's yen gain or loss translate into in terms of dollars? What accounts for the difference between this figure and your answer to part a?

Exchange Rate
The value of one currency for the purpose of conversion to another. Exchange Rate means on any day, for purposes of determining the Dollar Equivalent of any currency other than Dollars, the rate at which such currency may be exchanged into Dollars...