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8) Suppose Wireless needs to borrow $1 million, and is considering issuing a 3-year dollar-denominated Eurobond worth $1 million, or a 3-year y bond worth Y 110 million. The firm can issue the 3-year US dollar-denominated Eurobond at 995% of par value with a fixed annual coupon rate of 7%. Alternatively, the firm can issue the yen-denominated Foreign bond at par with a fixed annual coupon rate of4% (yen terms). The current exchange rate is Yen llos. Expectations value of the Yen/S rate over the 3-year period are: en-denominated Foreign Today Yen 110/S Year 2 Yen 105/S Year 3 Yen 100rs Year 1 Yen 108/S What is the yield to maturity on the dollar-denominated Eurobond (in US dollar terms)? What is the yield to maturity on the yen-denominated Foreign bond (in S terms)? Comparing these two costs (compare in S terms), which method of financing will Wireless choose? 7.1996; Answer: YTM on US bond YTM on yen bond-731 596; borrow using Seurobond