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The expected inflation rate in Canada is 12% percent, while the expected inflation rate in Singapore is 15% percent. If the direct quote for Singapore

The expected inflation rate in Canada is 12% percent, while the expected inflation rate in Singapore is 15% percent. If the direct quote for Singapore dollar is CND3.5605 and assuming other things are being equal, after supply and demand for the Singapore dollar have adjusted according to purchasing power parity, the expected exchange rate for a Singapore dollar will be

a. CND4.0236

b. CND4.0516

c. CND3.4676

d. CND3.6559

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