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Economics Currency Exchange Rate Assignment As purchasing manager for Extreme Sports, you are about to enter into a contract for $1,000,000 (U.S.), for sporting goods from a supplier in the country listed on the other side of this page. You will sign the contract on August 30. When you sign the contract, you will have a choice of committing to pay the supplier in U.S. dollars ($1,000,000), or the equivalent amount of money in the supplier's currency as of August 30 (based on the August 30 exchange rate). You can find the exchange rates for the supplier's currency in the on-line version of the Wall Street Journal. The contract will come due, and you must pay the supplier for the sporting goods, on September 25. Thus, your choice of currency with which to pay the supplier (U.S. dollars or the currency of the supplier's country) may impact the actual amount that you pay the supplier (if you choose to pay in the supplier's currency) or may result in an opportunity cost or savings (if you choose to pay in U.S. dollars). Supplier's currency is Columbian Peso. Please explain why