1)Refer to the exchange rates below to answer the following questions. Table: Annual average exchange rate measured in US dollar per foreign currency (E$/FX). (20p) Country Currency 2013 2014 Mexico Peso 0.0692 0.0805 Switzerland Franc 1.059 1.028 Thailand Baht 0.0316 0.0328 United Kingdom Pound 1.545 1.604 Canada Can.Dollar 0.971 ? a. For the first four currencies in the table, did the U.S. dollar appreciate or depreciate relative to these currencies between 2013 and 2014? (5p) b. Compute the Mexico/Thailand exchange rate Epeso/baht for 2013. (5p) c. Compute the Switzerland/United Kingdom exchange rate Efranc/pound for both 2013 and 2014. Did the Swiss franc appreciate or depreciate in value relative to British pound during this time? (5p) d. We know that the percentage change in the US-Canadian exchange rate (ES/C$) from its level in 2013 (0.971) to 2014 is a positive 6%. Please compute the value of the exchange rate (ES/C$) in 2014. Did the U.S. dollar appreciate or depreciate during this time relative to the Canadian dollar? (5p)