Suppose $3,200 CAD could be used to purchase $1, 828.57 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). Roud your answer to the nearest cent (two decimal places: 0.50). Part (b): This year, if the exchange rate is $1.80 CAD = $1 USD, 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 few sentences to explain how you arrived at this conclusion.