As a US multinational you decide to borrow long-term debt of 1 million JPY at 8% for one year. The exchange rate on the date you borrowed the debt is 100JPY/$ and the exchange rate on the date you repaid the debt is 120JPY/$. What is the nominal cost of borrowing the JPY debt in US $ terms? negative 8.33% negative 11.33% positive 8.33% negative 10.00%