A U.S.-based MNC, invests 15,000,000 Mexican pesos for a one-year period at a nominal interest rate of 15 percent. The spot rate of the peso is $.049 at the time of the investment. The spot rate of the peso in one year is $.041.

(1) Has the peso appreciated or depreciated over the 1-year period?

(2) what is the dollar amount of the initial investment?

(3) what is the dollar value of the investment after one year?