24. Suppose absolute purchasing power parity holds. The cost of 1 pound of oranges in Mexico is Ps6,409 and in the United States it is $2.90. What is the exchange rate? A. Ps 0.0004 per $1.00 B. Ps 0.0008 per $1.00 C. Ps 2,210 per $1.00 D. Ps 2,920 per $1.00 E. Ps 18,586 per $1.00