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What is the no-arbitrage us dollar price of one adr

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On the Milan bourse, Fiat stocks closed at 6.01 euros per share on July 23, 2007. Fiat trades as an ADR in the U.S as well. One underlying Fiat share equals one ADR. On July 23, 2007 the ($/euro) spot exchange rate was S($/euro)=1.32. At this exchange rate, what is the no-arbitrage US dollar price of one ADR?

Reference no: EM132200147

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