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7) A computer costs $520 in the United States. The same model costs 620 in France. If purchasing power parity holds, what is the spot

7) A computer costs $520 in the United States. The same model costs 620 in France. If purchasing power parity holds, what is the spot exchange rate between the euro and the dollar? Do not round intermediate calculations. Round your answer to two decimal places.

1 euro = $________

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