​lamoreaux homes: sydney to phoenix. terrey lamoreaux has homes in both​ sydney, australia, and​ phoenix, the united states. he travels between the two cities at least twice a year. because of his frequent​ trips, he wants to buy some​ new, high quality luggage. he has done his research and has decided to go with a briggs and riley​ three-piece luggage set. there are retails stores in phoenix and sydney. terry was a finance major and wants to use purchasing power parity to determine if he is paying the same price regardless of where he makes his purchase. a. if the price of the​ three-piece luggage set in phoenix is ​$ and the price of the same​ three-piece set in sydney is ​, using purchasing power​ parity, is the price of the luggage truly equal if the spot rate is ​a$​/$? b. if the price of the luggage remains the same in phoenix one year from​ now, determine the price of the luggage in sydney in​ one-year's time if ppp holds true. the u.s. inflation rate is ​% and the australian inflation rate is ​%.