Please answer both questions. Thank you.

Question 3 3 pts When analyzing the returns of plant locations: Estimating future exchange rates did not matter because you always could hedge Local demand was unimportant because tariffs were low and overall production equaled overall demand The return on investment per plant was the same for all countries It was sensible to consider returns in local currency terms rather than converting them to USD Question 4 3 pts Assume the CNY:USD exchange rate is CNY 6.9 : $1. If the expected long- term annual inflation rate in China is expected to be 5% and in US expected to be 2%, what is your best prediction for next year's CNY:USD exchange rate, using inflation rates as your guide: 6.7:1 6.9:1 7.1:1 7.24:1