Part a Victory Race, Inc. has $3 million in cash available for 30 days. It can earn 2% on a 307day investment in the US. Alternatively, if it converts the dollars to Peruvian Sol. it I.\" earn 3% on a Peruvian depDSit. The spot rate of the Peruvian sol is $25. The spot rate 30 days from now is expected to be $.24. Should Victory Race invest its cash in the US. or in Peru? Substantiate your answer. (7 marks) Part b Roaring River Ltd. has $3 million in excess cash that it has invested in Jamaica at an annual interest rate of 80 percent. The US. interest rate is 12 percent. By how much would the Jamaican dollar have to depreciate to cause such a strategy to backre