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

A share of the ADR of a French firm represents one share of that firms stock that is traded on the Paris stock exchange. The share price of the firm was 26 euros when the French market closed. As the U.S. market opens, the euro is worth $1.20. Thus, the price of the ADR should be:

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