Problem 1.8 Kyle's Competing OffersCountryISOCurrencySalarySigning BonusCurrency = $1.00United KingdomGBP£73,000.00£20,000.000.7000 Czech RepublicCZKkoruna (Kc)1,850,000.00 Kč325,000.00 Kč24.35 FranceEUR€ 83,000.00€ 17,000.000.9000 Converting Each Salary and Signing Bonus into US Dollars:CountryISOCurrencySalarySigning BonusCurrency = $1.00Salary (US$)Bonus (US$)Total (US$)United KingdomGBP£73,000.00£20,000.000.7000 $104,286$28,571$132,857.14Czech RepublicCZKkoruna (Kc)1,850,000.00 Kč325,000.00 Kč24.35 $75,975$13,347$89,322.38FranceEUR€ 83,000.00€ 17,000.000.9000 $92,222$18,889$111,111.11The posting in the United Kingdom has the highest total value as measured in U.S. dollars.Kyle, after an arduous post-graduation job search, has received an offer of the following three different country posts with a major multinational company. Each of the three countries -- the United Kingdom, the Czech Republic, and France -- offer different starting salaries and different signing bonuses, but in different currencies. Kyle wants to first compare all of the compensation packages in a common currency, the U.S. dollar. Use the following data to determine which offer represents the greatest initial U.S. dollar compensation package.pounds (£)euros (€)pounds (£)euros (€)Now if you were Kyle, you might also consider the cost of living in each location and the appropriate tax rate. And of course the career potential, your capabilities in second languages, your cultural interests, and everything else that has to be considered when choosing where you will live -- at least initially.