Which of the following statements is NOT CORRECT?
a. The cost of capital may be different forsa foreign project than for an equivalent domestic project because foreign projects may be more or less risky.
b. The United States and most other major industrialized nations currently operate under a system of fixed exchange rates.
c. A deposit of US $10,000 by a French citizen in a Barclay's bank in London would be considered a Eurodollar deposit.
d. A foreign currency will, on average, depreciate or appreciate against the U.S. dollar at a percentage rate approximately equal to the inflation rate differential between the two countries.