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8. Many experts believe that the Chinese currency should not only be revalued against the U.S. dollar as it was in July 2005, but also

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Many experts believe that the Chinese currency should not only be revalued against the U.S. dollar as it was in July 2005, but also be revalued by another 20% or 30%.

What would be the new exchange rate value if the yuan was revalued an additional 20% from its initial post-revaluation rate of Yuan 8.28/$ to Yuan 8.11/$?

The 20% revalued exchange rate will be Yuan ___________/$. (Round to two decimal places).

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