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A French institutional investor wishes to buy 20,000 shares of a particular Taiwanese firm. The firm trades on the Taiwan Stock Exchange. A Taiwan-based broker
A French institutional investor wishes to buy 20,000 shares of a particular Taiwanese firm. The firm trades on the Taiwan Stock Exchange. A Taiwan-based broker quotes the Taiwan dollar (TW$) price of shares of this firm as 150.55-150.85, with a commission of 0.05 percent of the transaction value. A bank is quoting the TW$ to exchange rate as 32.8675-32.8805. How many euros will the French institutional investor pay on buying the shares? Show your work. (4 points)
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