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Assume the current exchange rate between the Mexican Peso per U.S. dollar is Mex$19.78/$. The price of a Big Mac in the U.S. is $5.74

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Assume the current exchange rate between the Mexican Peso per U.S. dollar is Mex$19.78/$. The price of a Big Mac in the U.S. is $5.74 and the price in Mexico is Peso 50. What is the implied PPP of the peso per dollar? Peso 1148/$ Peso 8.71/$ None of the answers is correct Peso 19.78/$ Peso 2.53/$

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