If the foreign currency ____ by the time the acquirer makes payment, the acquisition will be more costly, and the cost of the acquisition changes ____ the change in the exchange rate.

Question

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If the foreign currency appreciates, the acquirer will need more of their own currency to make the payment, making the acquisition more costly. The cost changes in the same proportion as the change in the exchange rate.

If the Foreign Currency ____ by the Time the Acquirer