Question: Show answer please 2. Cnooc's gain or los Cnooc, a Chinese public-sector company, has made a bid to purchase Unocal, a big U.S. oil company,

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2. Cnooc's gain or los Cnooc, a Chinese public-sector company, has made a bid to purchase Unocal, a big U.S. oil company, for S 18.5 billion in June 2005. Treat this as an initial investment made by Cnooc in this two-year, U.S. based project. If it has purchased Unocal in August 2005, how many Yuan does Cnooc save on its initial investment because of the Chinese revaluation of the Yuan from 8.28 Yuan/S to 8.11 Yuan/S on July 21, 2005? (9 points)

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