Based on the following information, and using the actual currency rates indicated above, please work out 1) the implied valuation of $1 US (in local currency) based on the Big Mac serving as a typical basket of goods and 2) indicate whether the currency is over or under valued (when comparing the implied value to the actual exchange rate). Country Price of a Big Mac

A. Implied rate

B. Actual rate

C. % Over/Under Valued Against the USD.

Answer each questions with the below prices

U.S. $ 5.15

Sweden SEK 57

Euro Zone 4.65

Japan 390

Brazil R$ 22.9

Canada C$ 6.77

China 24

U.K. 3.69