6. Calculate the contribution to total performance from currency, country, and stock selection for the manager in the example below. All exchange rates are expressed as units of foreign currency that can be purchased with 1 U.S. dollar.

EAFE Weight Return on Equity Index E1/E0 Manager’s Weight Manager’s Return Europe 0.30 20% 0.9 0.35 18%

Australia 0.10 15 1.0 0.15 20 Far East 0.60 25 1.1 0.50 20