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Lantau Beer of Hong Kong borrowed Japanese yen under a​ long-term loan agreement several years ago....

Lantau Beer of Hong Kong borrowed Japanese yen under a​ long-term loan agreement several years ago. The​ company's new CFO​ believes, however, that what was originally thought to have been relatively​ "cheap debt" is no longer true. What do you​ think?

2010

2011

2012

Annual yen payments on debt agreement​ (¥)

11,200,000

11,200,000

11,200,000

Average exchange​ rate, ¥/HK$

12.65

12.57

10.99

Annual yen debt​ service, HK$

Calculate the Annual Yen Debt Service for each year.

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