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2) In 1989 and 1990, the Japanese company Mitsubishi Estate Co. paid the Rockefeller family $1.4 billion for an 80 percent stake in New York's
2) In 1989 and 1990, the Japanese company Mitsubishi Estate Co. paid the Rockefeller family $1.4 billion for an 80 percent stake in New York's Rockefeller Center. At the time, the exchange rate was 145 /$. When the investor went to sell the building five years later, in early 1995, the exchange rate was 85 /$ and the property's value had decreased to $800 million. a. What exchange risk did Mitsubishi Estate face at the time of the purchase
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