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Break-even Financing.Providence Co. needs dollars. Assume that the local oneyear loan rate is 15%, while a oneyear loan rate on euros is 7%. By how

Break-even Financing.Providence Co. needs dollars. Assume that the local oneyear loan rate is 15%, while a oneyear loan rate on euros is 7%. By how much must the euro appreciate to cause the loan in euros to be more costly than a U.S.-dollar loan?

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