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A share of the ADR of a Dutch firm represents five shares of that firm's stock that is traded on the Dutch stock exchange. The

A share of the ADR of a Dutch firm represents five shares of that firm's stock that is traded on the Dutch stock exchange. The share price of the firm was 11.1 EUR when the Dutch market closed. As the U.S. market opens, the exchange rate on the euro is 1.34 USD/EUR. Assuming no significant news has happened in the interim, the price of the ADR should be about ____ USD.

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