Please answer the next 5 questions based on the following information. Please use the exact, not the approximate formula. Suppose the annual inflation rate in the US is expected to be 5.5 %, while it is expected to be 2.00 % in Japan. The curent spot rate (on 1/1/10) for the Japanese Yen (JPY) is $0.01 1 1 1 20. According to Purchasing Power Parity, expected percentage change in the value of the JPY during a one-year period should be: a. 3.43% -3.50% -4.17% 96.68% b. d. 21. According to Purchasing Power Parity, the expected spot price for JPY on 1/1/11 should be: a.$0.01111 b. $0.01074 c. $0.01133 d. $0.01149 in "real" purchasing 22. If the spot rate of JPY is $0.01 138 on 1/1/11, then the JPY experienced power. a. Gain b. Loss c. No Change 23. If the spot rate of JPY so.01149 on 1/1/11, then the USD experienced_in "real" purchasing power. a. Gain b. Loss c. No Change 24. Suppose the value of the JPY is S0.01175 on 1/1/11. The net cash flow of a US importer from Japan will a. Increase b. Decrease