Exxon Oil Corp. is negotiating the purchase of 1 million barrels of oil from a bankrupt competitor to be delivered and paid for in exactly 1 year. Exxon is willing to pay $105 per barrel because they can sell the oil in advance to oil refineries. For political reasons, the oil exporter wants the contract expressed in Pesos. What price per barrel of oil expressed in Pesos is equivalent to $105 if the "in US Dollar" exchange rate for Pesos is $0.1370?

Pesos