Two countries, South Korea and the U.S. produce just one good: beef. Suppose that the price of beef in the U.S. is $2.80 per pound, and in South Korea, it is W10000 per pound. a. According to PPP theory, what should the $/W spot exchange rate be? b. Suppose the price of beef is expected to rise to $3.10 in the U.S., and to W12,000 in South Korea. What should the one-year forward $/W exchange rate be? c. Given your answers to parts a and b, and given that the current interest rate in the United States is 8 percent, what would you expect the current interest rate to be in South Korea?