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I offer your firm 300 gallons of propane and 1,200 euros in exchange for 3,500 board feet of lumber. The market price of lumber is
I offer your firm 300 gallons of propane and 1,200 euros in exchange for 3,500 board feet of lumber. The market price of lumber is $0.59 per board foot, though your firm would use lumber in its production process even if it sold for $4.00 per board foot. On the other hand, your firm cannot use propane in its production. The current exchange rate is $1.39 per euro. If there are no costs to trading or shipping, what market price of propane, if any, would leave you indifferent between accepting and rejecting this trade? Provide a price in dollars to three digits after the decimal
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