Consider an Apple iPod that costs $240. a. If the euro–dollar exchange rate is 1.3 euros per dollar, so that it costs a European 1.3 euros to buy a dollar, how much will the iPod cost in France? Instructions: Enter your response as an integer value. Price of iPod in France: euros. b. If the euro–dollar exchange rate falls to 0.5 euro per dollar, how much will the iPod cost in France? Instructions: Enter your response as an integer value. Price of iPod in France: euros. c. Consequently, what will happen to French purchases of iPods and the amount of dollars demanded in the foreign exchange market as the euro–dollar exchange rate falls? French purchases of iPods will . The amount of dollars demanded in the foreign exchange market will .

On january 1, 2018, gless textiles issued $12 million of 9%, 10-year convertible bonds at 101. the bonds pay interest on june 30 and december 31. each $1,000 bond is convertible into 40 shares of gless’s no par common stock. bonds that are similar in all respects, except that they are nonconvertible, currently are selling at 99 (that is, 99% of face amount). century services purchased 10% of the issue as an investment. on january 1, 2018, gless textiles issued $12 million of 9%, 10-year convertible bonds at 101. the bonds pay interest on june 30 and december 31. each $1,000 bond is convertible into 40 shares of gless’s no par common stock. bonds that are similar in all respects, except that they are nonconvertible, currently are selling at 99 (that is, 99% of face amount). century services purchased 10% of the issue as an investment. 3. on july 1, 2023, when gless’s common stock had a market price of $33 per share, century converted the bonds it held. prepare the journal entries by both gless and century for the conversion of the bonds (book value method).