The spot exchange rate between the Canadian dollar (CAD) and the New Zealand Dollar (NZD) is CAD 1.00 = NZD 1.16. Which of the following reflects a strengthening of the CAD? Select the best answer. Select one: O a. CAD 1.00 = NZD 1.25 b. CAD 1.00 = NZD 1.10 C. CAD 0.91 = NZD 1.00 d. CAD 0.80 = NZD 1.00 e. Both (a) and (d) reflect a strengthening CAD f. Both (b) and (c) reflect a strengthening CAD