Question 5 1 points Save Answer Laura Chenel, a US dairy company, exports aged cheeses to Japan and Canada. In this problem, you'll compare the relative attractiveness of selling cheddar cheese in the US, Japan, and Canada. Consider the following information: Country Currency Bank (Nominal) Price of Cheddar Exchange Rate Cheese Block in Local Currency N/A $ 3.00 Japan $ 0.009500 per 350 Canada CAS $ 0.7700 per CAS CA$ 3.50 US Assume the cheddar cheese exported is identical to that sold in the US. Based on this information, answer the following questions. 1) What is the absolute purchasing power parity (APPP) exchange rate of each currency, $ per and S per CAS, based on local cheddar cheese prices? i) What is the absolute purchasing power parity (APPP) exchange rate of each currency, S per \ and $ per CA$. based on local cheddar cheese prices? ii) What is the real exchange rate from the US perspective for each country, RSIH and R$/CA$, based on bank (nominal spot) exchange rates and cheddar cheese prices in the local currencies? iii) What does the US company receive in US$ (that is, after conversion) per block of cheddar cheese sold in each country? Oi) $0.009500 per and $0.7700 per CA$ m) R$/4 = 1.0000 and R$/CAS = 1.0000 it) $3.000 per block sold in Japan and $3.000 per block sold in Canada i) $0.008571 per \ and $0.8571 per CA$ ii) R$4 = 1.1083 and R$/CA$ = 0.8983 iii) $3.325 per block sold in Japan and $2.695 per block sold in Canada Oi) $116.67 per \ and $1.1667 per CA$ ii) R$/4 = 0.9023 and R$/CA$ = 1.1132 ii) $3.325 per block sold in Japan and $2.695 per block sold in Canada Oi) $116.67 per \ and $1.1667 per CA$ ii) R$/4 = 0.9023 and R$/CA$ = 1.1132 iii) $2.7068 per block sold in Japan and $3.3395 per block sold in Canada