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A share of the ADR of a Dutch firm represents one share of that firms stock that is traded on a NYSE stock exchange. The

A share of the ADR of a Dutch firm represents one share of that firms stock that is traded on a NYSE stock exchange. The share price of the firm was $15 when the NYSE was closed. As the European market opens, the euro is worth $1.15. Thus, the price of the ADR should be:

13.04.

15.00.

16.50.

17.25

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