A computer costs $520 in the United States. The same model costs 530 euros in France. If purchasing power parity holds, what is the spot exchange rate between the euro and the dollar? Do not round intermediate calculations. Round your answer to two decimal places.

Fundamentals of Financial Management (MindTap Course List)
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Author:Eugene F. Brigham, Joel F. Houston
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Chapter19: Multinational Financial Management
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Problem 17-03
Purchasing Power Parity

A computer costs $520 in the United States. The same model costs 530 euros in France. If purchasing power parity holds, what is the spot exchange rate between the euro and the dollar? Do not round intermediate calculations. Round your answer to two decimal places.

$1 =  euros

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