Question: Please answer the question based on the quotes provided below. Currency Quotes : 1/1/20X1 Quotes : 1/1/20X2 Canadian Dollar (CAD) USD 0.4429 for CAD 1.00

Please answer the question based on the quotes provided below. Currency Quotes : 1/1/20X1 Quotes : 1/1/20X2 Canadian Dollar (CAD) USD 0.4429 for CAD 1.00 USD 0.5517 for CAD 1.00 During the 1/1/20X1 to 1/1/20X2 period, the percentage appreciation/depreciation of the USD from the Canadian point of view was: Group of answer choices 32.565 appreciation 24.565 appreciation 19.720 depreciation 19.720 appreciation

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