1. Pick a currency (you can do all of the currencies listed or just pick one or pick a different currency entirely) and solve Problem 8.2, pp. 256-257 in the text.(Starting Amount (Original Currency) / Ending Amount (New Currency) = Exchange Rate). NOTE: To solve the problem you will need the Big Mac price in the currency you select and the current exchange rate. You can get the Big Mac price in your currency from Step 2 and the current exchange rate from Step 4. DoNOTuse the US Dollar price of a Big Mac in your selected currency from the Step 2 or Step 3 information, they are out of date and you need current data.
2. To obtain the current US Dollar exchange rate with the currency you have selected go to X-Rates.com.

.Answer the question: Is the currency you selected over valued or under valued? Support your view with the data you developed using the steps above