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On the Paris bourse, shares of Avionelle trade at 45. The spot exchange rate is $1.40 = 1.00. What is the no-arbitrage U.S. dollar
On the Paris bourse, shares of Avionelle trade at 45. The spot exchange rate is $1.40 = 1.00. What is the no-arbitrage U.S. dollar price of an Avionelle ADR? Assume that transactions costs are negligible and that one ADR represent one underlying share. a. $63.00 b. $32.14 c. $45.00 d. $45.50
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Global Investments
Authors: Bruno Solnik, Dennis McLeavey
6th edition
321527704, 978-0321527707
