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If the price of a Big Mac is US$4.40 in the United States and NZ$5.50 in New Zealand, what does the ILOP condition say that

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If the price of a Big Mac is US$4.40 in the United States and NZ$5.50 in New Zealand, what does the ILOP condition say that the spot FX rate should be? Select one: a. 1.30 US$/NZ$ b. 1.25 USS/NZ$ O c. 1.22 US$/NZ$ d. 1.20 US$/NZ$ e. None of the above

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