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If a Volkswagen Passat costs $32,400 in Baltimore and 24,000 in Frankfurt, what is the implied exchange rate between the U.S. dollar and the euro?

If a Volkswagen Passat costs $32,400 in Baltimore and 24,000 in Frankfurt, what is the implied exchange rate between the U.S. dollar and the euro? (Round answer to 4 decimal places, e.g. 15.2570.)

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