Question 3 (3.03 points) Use the following information for the next two questions. The Red Bull company, an Austrian firm, produces energy drinks and sells them in the US. Last year the exchange rate was $1.12/ and they charged 27 euros per pack of 24 cans in Europe. Currently the spot exchange rate is $1.197. If the degree of pass-through is 93% and the price in EU stays the same, How much is the percentage change in the exchange rate? 5.21% 8.09% 6.25% 7.44%