A US firm has a subsidiary in Tokyo. The subsidiary has 9,837,000 Japanese Yen in assets and 8,744,000 Japanese Yen in liabilities. The current spot rate is: $1 = 109.3 Japanese Yen. What its the net exposure in Japanese yen?

		1,093,000 Japanese Yen
		2,010,000 Japanese Yen
		3,155,000 Japanese Yen
		2,550,000 Japanese Yen

A bank currently just meets its total capital requirements of 10.5%. Assets are expected to grow at 5%. If the bank expects its ROA to be 1%, what is the maximum dividend payout ratio to support its growth in assets?

		27.5%
		47.5%
		15.5%
		33.5%