Given the following exchange rates last year and today. Time USD vs. Malaysian ringgit (MYR) USD vs. Chinese yuan (RMB) Last year $0.280/MYR $0.140/RMB Today $0.273/MYR $0.130/RMB (a) Using the U.S. dollar (the common currency), what was the cross rate of Chinese yuan vs. Malaysian ringgit last year? Assume that Chinese yuan is the home currency and use the direct quote from Chinese yuan's perspective, that is, the number of RMB per one unit of MYR (RMB????/MYR) to answer this question. (3 marks) (b) Using the U.S. dollar (the common currency), what is the cross rate of Chinese yuan vs. Malaysian ringgit today? Assume that Chinese yuan is the home currency and use the direct quote from Chinese yuan's perspective, that is, the number of RMB per one unit of MYR (RMB????/MYR) to answer this question. (3 marks) (c) Based on your answers from Parts (a) and (b) above, did Malaysian ringgit appreciate or depreciate against RMB and by what percentage? That is, find the percentage change in foreign currency where Chinese yuan is the home currency and Malaysian ringgit is the foreign currency. (4 marks) Given the following exchange rates last year and today. Time USD vs. Malaysian ringgit (MYR) USD vs. Chinese yuan (RMB) Last year $0.280/MYR $0.140/RMB Today $0.273/MYR $0.130/RMB (a) Using the U.S. dollar (the common currency), what was the cross rate of Chinese yuan vs. Malaysian ringgit last year? Assume that Chinese yuan is the home currency and use the direct quote from Chinese yuan's perspective, that is, the number of RMB per one unit of MYR (RMB????/MYR) to answer this question. (3 marks) (b) Using the U.S. dollar (the common currency), what is the cross rate of Chinese yuan vs. Malaysian ringgit today? Assume that Chinese yuan is the home currency and use the direct quote from Chinese yuan's perspective, that is, the number of RMB per one unit of MYR (RMB????/MYR) to answer this question. (3 marks) (c) Based on your answers from Parts (a) and (b) above, did Malaysian ringgit appreciate or depreciate against RMB and by what percentage? That is, find the percentage change in foreign currency where Chinese yuan is the home currency and Malaysian ringgit is the foreign currency. (4 marks)