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In the NYSE, Ford stock closed at USD100 per share. On the same day, the exchange rate was USD1.25/GBP. Ford stock trades as an ADR
In the NYSE, Ford stock closed at USD100 per share. On the same day, the exchange rate was USD1.25/GBP. Ford stock trades as an ADR in the OTC market in the United Kingdom. Three Ford shares are packaged into one ADR. What is the approximate no-arbitrage GBP price of one ADR? 26.67.125.00.240.00.300.00.375.00.80.00
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Advanced Accounting
Authors: Joe Hoyle, Thomas Schaefer, Timothy Doupnik
10th edition
0-07-794127-6, 978-0-07-79412, 978-0077431808
