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What is the difference in usd cnooc pays

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Cnooc's gain or loss If it has purchased Unocal in August 2005, Cnooc, a Chinese public-sector company, has made a bid to purchase Unocal, a big U.S. oil company, for CNY 18.5 billion in June 2005. Treat this as an initial investment made by Cnooc in this two-year, U.S. based project.

Question 1: what is the difference in USD Cnooc pays for its initial investment because of the Chinese revaluation of the Yuan from 8.28 Yuan/$ to 8.11 Yuan/$ on July 21, 2005?

 

Reference no: EM132858871

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