Sydney. Terry was a finance major and wants to use purchasing power parity to determine if he is paying the same price regardless of where he makes his purchase. spot rate is A$1.1114/$ ? Australian inflation rate is 3.13%. spot rate is A$1.1114/$ ? (Select the best choice below.) A. Yes, the price of the luggage is truly equal if the spot rate is A$1.1114/$. B. There is not enough information to determine if the price of the luggage is equal. C. No, the price of the luggage is not equal if the spot rate is A$1.1114/$. Australian inflation rate is 3.13%. If the price of the luggage remains the same in Phoenix one year from now, the price of the luggage in Sydney in one-year's time if PPP holds true is A $ (Round to the nearest cent.)