I think we have a problem created by the Brexit vote. The exchange rate is now 1.00 = 1.16! Please prepare a brief memo addressing the questions I have below. 1. What will happen to our profit, in both pounds and euros, if we do not change the price of products sold in the U.K.? 2. What will happen to our profit, in both pounds and euros, if we increase the price to 235 per unit here in the U.K.? Market research indicates that U.K. consumer behavior is somewhat elastic, so consider scenarios when the elasticity is 0.8 and when it is 1.1. 3. Do you think we should raise the price in the U.K. or not? Use the results above to explain your recommendation. 4. Changing your perspective from that of the U.K. subsidiary to that of the parent in Milan, can you think of any additional concerns our corporate parent would have regarding our decision on whether to raise the price