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On the Tokyo Stock Exchange, Honda Motor Company stock closed at $2.922 per share on Monday, June 6, 2016. Honda trades as an ADR on

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On the Tokyo Stock Exchange, Honda Motor Company stock closed at $2.922 per share on Monday, June 6, 2016. Honda trades as an ADR on the NYSE One underlying Honda share equals one ADR. On June 6, 2016, the $ exchange rate was #10772/$1.00 (Round your answer to 2 decimal places.) At this exchange rate, what is the no-arbitrage U.S. dollar price of one ADR? No arbitrage price

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