You will choose an MNC and can write the report either as an investor or as the CFO of

the MNC. If you chose the investor track, I want you to write the report as an investment analyst who has

been asked to research the firm for potential investment. You will use the current price as your starting

point and make a recommendation as to its future valuation. I want you to explain how the market values

the MNC s expected earnings and how volatile are its cash flows given its various exchange rate exposures

and how these factor in your investment decision. If you chose the CFO track, write the report as if you

are the new CFO of the MNC and discuss the current exchange rate exposure mechanisms and suggest how

you would improve upon them or the future direction the MNC should take in their capital projects and

other investments. Either of these tracks will involve that you understand the various exposures the MNC

faces. You will have to dig through their annual reports (hence I suggest choosing a US-listed MNC, you will

have more information) and understand their hedging program very clearly. (A report of at least 300 words)