Question: The table below shows the exchange rate this year along with the price level in this country and a foreign country this year, last year,

The table below shows the exchange rate this year along with

The table below shows the exchange rate this year along with the price level in this country and a foreign country this year, last year, and the projection for next year. Answer the question assuming the projection for next year is accurate and relative PPP holds Foreign Price Level Exchange Rate 2.8 3.39 Price Level 104 Last Year This Year Next Year 127 118 135 What is the exchange rate next year? Round to two decimal places

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