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Laurel Co. is a U.S.-based company with US dollar costs and with revenues in curos and Swiss francs. Assume that the euro-franc exchange rate

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Laurel Co. is a U.S.-based company with US dollar costs and with revenues in curos and Swiss francs. Assume that the euro-franc exchange rate will remain quite stable. Hardy Co. is also U.S.- based, but has euro revenues and costs in Swiss francs, rather than in USD. Which firm has a higher exposure to exchange rate risk The firms have the same levels of exposure Laurel Neither firm has exchange rate risk Hardy

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