Suppose the annual rate of inflation in South Korea is 5.31%, and the annual rate of inflation in Japan is 7.82%. If the Japanese Yen appreciates relative to the Korean Won by 2.10% in real terms, then which of the following would be correct? a. Nominal exchange rate appreciation by 4.533%. b. Nominal exchange rate depreciation by 0.277%. C. Nominal exchange rate appreciation by 2.776%. d. Nominal exchange rate depreciation by 4.337%. e. There is no change in the nominal exchange rate