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US one-year interest rate is 11% and Canadian rate is 13%. Obtain the effective financing (return) rate for a US firm if it borrowed (invested)

US one-year interest rate is 11% and Canadian rate is 13%. Obtain the effective financing (return) rate for a US firm if it borrowed (invested) in Canada and the Canadian dollar depreciated by 10% during the year.

{Ans. = 1.7%} just unsure how to solve.

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