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1. You look in the newspaper and see the following FX rates for the Mexican Peso: 0.0493 (in US $) and 20.3025 (Per US $).

1. You look in the newspaper and see the following FX rates for the Mexican Peso: 0.0493 (in US $) and 20.3025 (Per US $). On a trip to Mexico, you purchase an item for 1,000 pesos. How much does this cost you in US dollars?

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