Response to the following problem:
Citibank holds $23 million in foreign exchange assets and $18 million in foreign exchange liabilities. Citibank also conducted foreign currency trading activity in which it bought $5 million in foreign exchange contracts and sold $12 million in foreign exchange contracts.
a. What is Citibank's net foreign assets?
b. What is Citibank's net foreign exchange bought?
c. What is Citibank's net foreign exposure?