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9. Rebecca Taylor, an international equity portfolio manager, recognizes that an optimal country allocation strategy combined with an optimal currency strategy should produce optimal portfolio

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9. Rebecca Taylor, an international equity portfolio manager, recognizes that an optimal country allocation strategy combined with an optimal currency strategy should produce optimal portfolio performance. To develop her strategies, Taylor produced the following table, which provides expected return data for the three countries and three currencies in which she may invest. The table contains the information she needs to make market strategy (country allocation) decisions and currency strategy (currency allocation) decisions. Expected Returns for a U.S.-Based Investor

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