Valley Stores, a U.S. department store chain, annually negotiates a contract with Alpine Watch Company, located in Switzerland, to purchase a large shipment of watches. On February 25, 2013, Valley purchased 14,000 watches for a total of 1.01 million Swiss francs. Refer to Table 2.1 and determine the following: The total cost and cost per watch in U.S. dollars. Do not round intermediate calculations. Round the cost per watch to the nearest cent and the total cost to the nearest dollar. Cost per watch: $ Total cost: $ The total cost and cost per watch in U.S. dollars of 17,000 watches purchased on November 18, 2015, assuming that Alpines price per watch (in Swiss francs) remains unchanged. Do not round intermediate calculations. Round the cost per watch to the nearest cent and the total cost to the nearest dollar. Cost per watch: $ Total cost: $

TABLE 2.1 Spot Foreign Exchange Rates (Direct Quotes) Country Australia U.K. Canada India Japan South Africa Switzerland Euro area Currency Dollar Pound Dollar Rupee Yen Rand Franc Euro Exchange Rate (U.S. Dollars) February 25, 2013 November 18, 2015 $1.0258 $0.7111 $1.5165 $1.5236 $0.9745 $0.7517 $0.01845 $0.01514 $0.010891 $0.008088 $0.1129 $0.0706 $1.0728 $0.9805 $1.3062 $1.0660 Source: The Wall Street Journal (February 25, 2013 and November 19, 2015)