Data table (Click on the following icon in order to copy its contents into a spreadsheet.) Assumptions Shipment of phosphates from Morocco, Moroccan dirhams Micca's cost of capital (WACC) Spot exchange rate, dirhams/$ 6-month forward rate, dirhams/$ 6-month interest rate for borrowing, Morocco (per annum) 6-month interest rate for investing, Morocco (per annum) 6-month interest rate for borrowing, U.S. (per annum) 6-month interest rate for investing, U.S. (per annum) Values 6,800,000 18.00% 11.50 11.90 7.50% 6.50% 5.50% 4.50%