2. (15 points) A vehicle manufacturer headquartered in California produces its best-selling model entirely in the U.S. The local price of this vehicle is $59,250, while and the price of the same model in Europe is 50,000. The company's pricing policy is to apply a pass-through rate of 65% with regards to exchange rate changes. What would be the new price in Europe if the exchange rate were to suddenly change from $1.1850/ to $1.2750/?