An American company has decided to issue three-year bonds denominated in 10 million Japanese yen at par

Finance Dec 11, 2021

An American company has decided to issue three-year bonds denominated

in 10 million Japanese yen at par. The bonds have a coupon rate of 6%. If the yen is expected to change from its current level of $.0091 to $.0090, $.0088, and $.0085 in years 1, 2, and 3, respectively, what is the financing cost (as a percentage) of these bonds??