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4. Say a bicycle costs 100$ in the United States. The table below gives the local currency price of bicylces in a number of countries and the current nominal exchange rate. Please fill in what the PPP based exchange rate would be (the exchange rate consistent with PPP) and whether the currency (of each country listed) is currently under valued, over valued or fairly valued against the dollar.~ country Price in local Nominal PPP based E- Under/overvaluation? currency exchange rate Japan 12,000 yen 120 yen/$~ Indonesia 1,000,000 rupiah | 20,000 rupiah/$6 Switzerland 300 francs 2 francs/$ Brazil 1600 peso