Mia Caruso? Enterprises, a U.S. manufacturer of? children's toys, has made a sale in India and is expecting a 406

million rupee cash inflow in one year.? (The currency of India is the? rupee.) The current spot rate is S=$0.023/rupee

and the? one-year forward rate is F1=$0.0218/rupee.

a. What is the present value of Mia? Caruso's 406 million rupee inflow computed by first discounting the cash flow at the appropriate India rupee discount rate of 11% and then converting the result into? dollars?

b. What is the present value of the 406 million rupee cash inflow computed by first converting the cash flow into dollars and then discounting it at the appropriate dollar discount rate of 5%??

c. What can you conclude about whether these markets are internationally? integrated, based on your answers to (a?) and ?(b?)?