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Answer On the Tokyo Stock Exchange, Honda Motor Company stock closed at $2,918 per share on Monday, June 6, 2016. Honda trades as an ADR

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On the Tokyo Stock Exchange, Honda Motor Company stock closed at $2,918 per share on Monday, June 6, 2016. Honda trades as an ADR on the NYSE. One underlying Honda share equals one ADR. On June 6, 2016, the */$ exchange rate was *107.68/$1.00. (Round your answer to 2 decimal places.) At this exchange rate, what is the no-arbitrage U.S. dollar price of one ADR? No-arbitrage price

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