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PURCHASING POWER PARITY A television costs $350 in the United States. The same television costs 319 euros. If purchasing power parity holds, what is the

PURCHASING POWER PARITY

A television costs $350 in the United States. The same television costs 319 euros. If purchasing power parity holds, what is the spot exchange rate between the euro and the dollar? Do not round intermediate calculations. Round your answer to the nearest cent.

$1=euro(s)

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