. Go to the St. Louis Federal Reserve FRED database,and find data on the exchange rate of U.S. dollarsper British pound (DEXUSUK). A Mini Cooper canbe purchased in London, England, for £17,865 or inBoston, United States, for $23,495.a. Use the most recent exchange rate availableto calculate the real exchange rate of theLondon Mini per Boston Mini.b. Based on your answer to part (a), are MiniCoopers relatively more expensive in Bostonor in London?c. What price in British pounds would makethe Mini Cooper equally expensive in bothlocations, all else being equal?

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