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Longhall Co. has $40 million excess cash in USD to invest in Canada. The Canadian...

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Finance

Longhall Co. has $40 million excess cash in USD to invest in Canada. The Canadian dollar is expected to depreciate 12% over the next year. The US interest rate is 6%. How much return is required in Canada to offset the currency depreciation? Give your answer in 3 decimal point and do not use percentage.

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