Question 1 - Foreign Currency Hedging Below is a table of currency spot rates relating to the (fictitious) currencies used among various island nations of the Pacific Ocean. They are quoted using the indirect method from New Zealand's perspective. Samoa 2 Cook Islands Kiribati Tahiti i Tonga L.16.512 1.1569 0.5248 - 2102.55 - 35.4432- 117901.2- 24.0184- New Zealand $ 16.898/$ 0.5369/$ 103.91/$ 5.8109/$ 8002.3/8 4.4561/$ Guam t 1.1821/$ With the exception of New Zealand there are no direct exchange rates between the islands of the Pacific. This means that an exchange of currency between two non-New Zealand nations involves, first, converting into New Zealand $, then converting those New Zealand $ into the desired currency. a) Using the exchange rates given above perform the following currency conversions: i. 10 million of Samoa currency into the currency of Kiribati. . ii. 5 million of Tonga currency into the . currency of Cook Islands