3. Suppose you are given the domestic prices of three items (shoes, watches, and dishwashers) in the US and India. Items US (dollars) India (rupees) 20 Shoes Watches Dishwashers 40 80 804 180 600 The current spot rate between rupees and US dollars is: S(INR/USD) = 5, and there are no transportation/transaction costs. Given the previous information, India will import a) shoes and watches and the US will import dishwashers b) shoes only and the US will import watches and dishwashers 4 c) all three items d) dishwashers, and the US will import shoes and watches Choose one of the answers above and provide explanation