$20.$ A U$.$S$.$ institutional investor with a large portfolio of U$.$S$.$ and international stocks wants to add $20,000$ shares of DaimlerChrysler to its portfolio. DaimlerChrysler trades as the same global share on several exchanges in the world. A U$.$S$.$ broker quotes the NYSE price of DaimlerChrysler as $$43\mathrm{.}45-43\mathrm{.}65,$ net of commissions. The institutional investor is also considering purchasing shares in Germany, where the offer price quoted for DaimlerChrysler's shares on the Frankfurt stock exchange $($XETRA$)$ is $44\mathrm{.}95,$ with a $0\mathrm{.}10$ percent commission to be paid on the transaction value. Which of the two alterna$-$ tives is better for the investor? How much would be the total saving by using the better of the two alternatives? The exchange rate is :$ $0\mathrm{.}9705-0\mathrm{.}9710.$