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A U . S . firm borrows in Euros from a foreign bank at 9 % . The Euro depreciates 4 % against the U

A U.S. firm borrows in Euros from a foreign bank at 9%. The Euro depreciates 4% against the U.S. dollar. What is the U.S. firm's dollar-denominated equivalent cost of funding (to two decimal places like 8.52%)?

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