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A five-year, 5.5 percent Euroyen bond sells at par. A comparable risk five-year, 7.0 percent yen/dollar dual-currency bond pays $847.33 at maturity. It sells for

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A five-year, 5.5 percent Euroyen bond sells at par. A comparable risk five-year, 7.0 percent yen/dollar dual-currency bond pays $847.33 at maturity. It sells for 110,000. What is the implied /$ exchange rate at maturity? Hint: The dual-currency bond pays 7.0 percent on a notional value of 100,000, whereas the par value of the bond is not necessarily equivalent to 100,000. (Do not round intermediate calculations. Round your answer to 3 decimal places.)

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