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1) (Australian Dollar) Assume your firm needed to borrow $100,000,000 on March 30, 2013 for 1 year.Your firm is credit-worthy and can borrow U.S. $ at the WSJ (Wall Street Journal) Prime Rate + 1%.You also have the option of borrowing from overseas sources in a foreign currency.Select a foreign currency and determine if it would have been better to have borrowed in U.S. $ or the foreign currency based on the effective financing rate of borrowing in the foreign currencyusing the methodology in the example on Pages 582-583 of the text.Assume a fixed rate loan for the 1 year period. You can easily find the WSJ Prime Rate on March 30, 2013 from various online sources.The following websites will provide you with the spot rates of various currencies on March, 2013and March 30, 2014 and the 2013 interest rate.Interest Rates (Use the 2013 rate):Exchange Rates:The website with the interest ratescontains a statement that terms and conditions vary by coun-try and this can affect the rate actually charged.Ignore this as we do not have access to that lev-el of data.As usual, first come - first served in the choice of foreign countries.There can be no duplication of countries or currencies chosen.Be sure to list the foreign country and currencyyou choose in the title of your post so that ev-eryone will know what countries and currencies have been chosen. You might want to post these first to reserve them and then come back and post your analysis.Be sure to show your calculations for the effective financing rate computation.