Erin McQueen purchased 60 shares of BMW, a German stock traded on the Frankfurt Exchange, for 85.65 (euros) per share exactly one year ago, when the exchange rate was 0.98 $/ (i.e. 1 was worth $0.98). Today the stock is trading at 88.43 per share, and the exchange rate is 1.15 $//. (Enter all losses as negative numbers.)

a. Did the depreciate or appreciate relative to the US$ during the past year? Explain.

b. How much in US$ did Erin pay for her 60 shares of BMW when she purchased them a year ago?

c. For how much in US$ can Erin sell her BMW shares today?

d. Ignoring brokerage fees and taxes, how much profit (or loss) in US$ will Erin realize on her BMW stock if she sells it today?