2. Foreign exchange rate quotations Aa Aa An exchange rate is the price of one country's currency expressed in another country's currency Suppose an American investor is given the current exchange rates in the following table. The listed quotations are direct quotations stated in American terms British pound (E) Euro () Australian dollar (AUS) $0.8970 Australian dollar Exchange Rate $1.9760 / pound 1.3210 euro Given these rates, an Australian dollar can purchase British pounds Purple Whale Foodstuffs Inc. is a U.S.-based firm that produces stereos in Germany at a cost of 110 (including production and transportation costs) and sells them in England for E 102. Based on the exchange rate table given in the preceding question, what is Purple Whale Foodstuffs Inc.'s dollar profit for each unit sold? O $64.68 $67.49 $61.86 O $56.24