You are a purchasing manager for Toyota's car factory in Cambridge, Ontario, and need to decide whether you should buy steel from a supplier in China or source it from Dofasco in Hamilton. If you buy it from Hamilton, you'll pay $3,000 per metric tonne. If you buy from China, you'll pay 14,000 yuan per metric tonne. Both prices include transportation costs. The nominal exchange rate is C$1 for 5 yuan. a. Calculate the real exchange ratethe price of domestic steel in dollars, relative to the price of imported steel converted into dollarsand use this to decide whether you should buy the domestic or imported steel