Manitowoc crane (u. s.) exports heavy crane equipment to several chinese dock facilities. salesare currently 10,000 units per year at the yuan equivalent of $24,000 each. the chinese yuan(renminbi) has been trading at yuan8.20/$, but a hong kong advisory service predicts therenminbi will drop in value next week to yuan9.00/$, after which it will remain unchanged for atleast a decade. accepting this forecast as given, manitowoc crane faces a pricing decision in theface of the impending devaluation. it may either (1) maintain the same yuan price and in effect sellfor fewer dollars, in which case chinese volume will not change; or (2) maintain the same dollarprice, raise the yuan price in china to offset the devaluation, and experience a 10% drop in unitvolume. direct costs are 75% of the u. s. sales price. additionally, financial management believes that if it maintains the same yuan sales price, volumewill increase at 12% per annum for eight years. dollar costs will not change. at the end of tenyears, manitowoc's patent expires and it will no longer export to china. after the yuan is devaluedto yuan9.20/$, no further devaluations are expected. if manitowoc crane raises the yuan price soas to maintain its dollar price, volume will increase at only 1% per annum for eight years, startingfrom the lower initial base of 9,000 units. again dollar costs will not change and at the end of eightyears manitowoc crane will stop exporting to china. manitowoc's weighted average cost of capitalis 10%. given these considerations, what should be manitowoc's pricing policy? a. what would be the short-run (one year) impact of each pricing strategy? b. which do you recommend? c. what would be the long-run impact of each pricing strategy? d. which do you recommend? can you me with this? need more cauculation details