Exchange Rates and Product Decisions Haliday Company has manufacturing subsidiaries in Thailand and Mexico. It is considering shipping the subcomponents of Product X to one or the other of these countries for final assembly. The final product will be sold in the country where it is assembled. Other information is as follows. Thailand Mexico $1=32.5bhats $1=12pesos Average exchange rate Import duty 4% 12 30% 28% Income tax rate 5055 bhats 2250 pesos Unit selling price of Product X 1444 bhats 540 pesos Price of subcomponent Final 1805 bhats 900 pesos assembly costs 14,000 units 10,000 units Number of units to be sold In both countries the imnort In both countries, the import duties are based on the value of the incoming goods in the receiving country's currency. Instructions a. For each country, prepare an income statement on a per-unit basis denominated in that country's currency. b. In which country would the highest profit per unit (in dollars) be earned? c. In which country would the highest total profit (in dollars) be earned