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E 10. Japanese Motors exports cars and trucks to the U.S. market. On February 25, 2013, its most popular model was selling (wholesale) to U.S.

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E 10. Japanese Motors exports cars and trucks to the U.S. market. On February 25, 2013, its most popular model was selling (wholesale) to U.S. dealers for $20,000. What price must Japanese Motors charge for the same model on November 18, 2015, to realize the same amount (of Japanese yen) as it did in 2013? (Refer to Table 2.1.) TABLE 2.1 Spot Foreign Exchange Rates (Direct Quotes) Exchange Rate (U.S. Dollars) Country Currency February 25, 2013 November 18, 2015 Australia Dollar $1.0258 $0.7111 U.K. Pound $1.5165 $1.5236 Canada Dollar $0.9745 $0.7517 India Rupee $0.01845 $0.01514 Japan Yen $0.010891 $0.008088 South Africa Rand $0.1129 $0.0706 Switzerland Franc $1.0728 $0.9805 Euro area Euro $1.3062 $1.0660

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