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A Big Mac costs 4.9 in Europe, while it costs $1.4 in the U.S. The actual market exchange rate is S($/)=4.5. Then the real (effective)

A Big Mac costs 4.9 in Europe, while it costs $1.4 in the U.S. The actual market exchange rate is S($/)=4.5. Then the real (effective) exchange rate the Big Mac implies is _____. (Please keep two decimal places.)

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