A U.S. firm holds an asset in France and faces the following scenario: State 1 State 2 State 3 State 4 Probability 25 % 25 % 25 % 25 % Spot rate $ 1.45 /€ $ 1.35 /€ $ 1.25 /€ $ 1.15 /€ P* € 1,500 € 1,400 € 1,300 € 1,200 P $ 1,900 $ 1,640 $ 1,350 $ 1,130 In the above table, P* is the euro price of the asset held by the U.S. firm and P is the dollar price of the asset. a. Compute the exchange exposure faced by the U.S. firm.