Show all your work. I can only give you partial credit if you show how you approached the problem! For the time value of money computations show what information you used to calculate the answer. Do not just write down the final answer.

IB431 International Finance 2. Spencer Grant is a New York-based investor. He has been closely following his investment in 700 shares of Vaniteux, a French firm that went public in February of 2010. When he purchased his 700 shares at 19.50 per share, the euro was trading at $1.3495/. Currently, the share is trading at 23.25 per share, and the dollar has fallen to $1.3850/. a. What would be the total percentage return Spencer would earn on his shares if he sold them at these rates? b. If Spencer Grant chooses not to sell his shares at the time, he waits, expecting the share price to rise further after the announcement of quarterly earnings. His expectations prove correct; the share price rises to 26.50 per share after the announcement. The current spot exchange rate is now $1.3045/. What would be the total percentage return at these rates