If anyone could help me with these, I would greatly appreciate it! Ill definitely give you a thumbs up if you get these correct. Thanks!

If you only know how to do one, that works too.

Assignment: 1. The table below shows the price of steel in three countries. The exchange rate between the dollar and the pound is $1.65/ and the exchange rate between the yen and the dollar is 84/$. Which country offers the best price for a steel purchase? Supplier Price in Local Currency American $190 British 116 Japanese 15,500 2. You are the purchasing agent for a U.S. firm buying steel based on the quotes shown in question 1. Your assistant tells you that the pound is now stronger against the dollar with a new exchange rate of $1.70/. Is the exchange rate change good news or bad news? Explain