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Assume that last year the price of a Toyota was 4 , 8 0 0 , 0 0 0 Yens in Tokyo and the exchange

Assume that last year the price of a Toyota was 4,800,000 Yens in Tokyo and the exchange rate at the time was 125Yens per $, which implies that the $ price at the time was $40,000. Suppose further that the yen has appreciated by 25%. If the price charged by Toyota in US is $44,000, then the percentage of pass-through is ?

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