a. What ahould have beon the enchange ralo in janvary 2003 it PPP held? b. By what percentage was the Argentine peso undervalued on an annualized basin? c. What were the probable causes of undervabuation? a. What should have been the exchange rale in January 2003 if Ppp held? The exchange rate in January 2003, if PPP held, should have been PI 5. (Round to bre decimal places) b. By what percontage was the Argentine peso undervalued on an annualized basis? On an annustued basis, the Argenthe peso was undervalued by %. CRound to three decimal places and include a negative sign if reeded.) c. What were the probable causes of undervaluation? (Select the best choice below) A. The rapid increase in the value of the U.5. dollar was a result of not onv intascon, but alao a severe crisis in the balance of payments B. The repid increase in the value of the Argentine peso was a result of not only inhation, but also a severe crisis in the balanoe of paymerts. c. The rapid decline in the value of the U.S. dolar was s resilt of not enly inflation, but also a severe crisis in the balanpe of payments