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On the Tokyo Stock Exchange, Honda Motor Company stock closed at 2,910 per share on Monday, June 6 , 2016. Honda trades as an ADR

On the Tokyo Stock Exchange, Honda Motor Company stock closed at 2,910 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 107.60/$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

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