2. THE BIG MAC index was invented by The Economist in 1986 as a lighthearted guide to whether currencies are at their "correct" level. Below is the Big Mac Index data scrapped from The Economics website on July 10" of 2019 Local Exchange Exchange Over- or Country Currency price of a Rate with Rate by Under- code mac US Dollar APPP valued United USD States 5.74 Canada CAD 6.77 1.31305 Switzerland CHF 6.5 0.99355 China CNY 21 6.8846 India INR 183 68.5544 Japan JPY 390 108.765 (1) Calculate the absolute PPP for the five countries except for the United States and fill in the extra column of the table, (Now the foreign currency is the US dollar) (2) Compare actual exchange rate with the calculated PPP exchange rate, and indicate which currency is over- or under-valued (relative to the dollar) and fill in the extra column of the table