Suppose $2, 400 CAD could he used to purchase $2, [$6.95 USD last year. Part {a}: What was the nominal exchange rate last year? Be sure to quote your answer in the proper format {example CAD :1 USD]. Rcud your answer to the nearest cent {two decimal places: I159). Part {In}: This year, if the exchange rate is $1.02 CAD : $1 USE}, has the USD experienced a nominal appreciation or a nominal depreciation? Part [c]: How will this change to the nominal exchange rate impact Canada's NX levels? Use a fen:I sentences to explain how you arrived at this conclusion