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A five-year, 8.0 percent Euroyen bond sells at par. A comparable risk five-year, 9.5 percent yen/dollar dual-currency bond pays $852.33 at maturity. It sells for
A five-year, 8.0 percent Euroyen bond sells at par. A comparable risk five-year, 9.5 percent yen/dollar dual-currency bond pays $852.33 at maturity. It sells for X110,000. What is the implied \/$ exchange rate at maturity? Hint: The dual-currency bond pays 9.5 percent on a notional value of $100,000, whereas the par value of the bond is not necessarily equivalent to $100,000. (Do not round intermediate calculations. Round your answer to 3 decimal places.) Implied exchange rate ($)
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