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7. Problem 17-03 (Purchasing Power Parity) Purchasing Power Parity A computer costs $610 in the United States. The same model costs 595 in France. If

7. Problem 17-03 (Purchasing Power Parity)

Purchasing Power Parity

A computer costs $610 in the United States. The same model costs 595 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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