Question 19 3.6 points Save Answer Which one of the following statements is most correct about Global Depository Receipts (GDRs) issued by a South African company? They are denominated in South African rand and traded in the U.S. They are primarily denominated in U.S. dollars and traded anywhere outside the United States They are primarily denominated in U.S. dollars and traded anywhere outside South Africa They are primarily denominated in U.S. dollars and traded outside South Africa and outside the U.S. They are denominated in South African rand and traded outside South Africa and outside the U.S. Question 21 3.6 points Save Answer Haliflex Investment Group, a Canadian investment partnership, borrows USD 10,000,000 for two years at a time when the exchange rate is CAD 1.3083/USD. The interest rate on the loan is 7% per annum. At the end of the first year, the borrower will make the first interest payment in U.S. dollars. At the end of the second year, the borrower will repay the principal and also make the second interest payment both in U.S. dollars. The U.S. dollar is expected to appreciate against the Canadian dollar at 3% per annum each year of the loan. What is the effective cost of this loan for the borrower? 0.77% 1.76% 11.24% 10.21% 9.18%