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Quantitative Problem: In the spot market, 1.88 Brazilian real can be exchanged for 1 U.S. dollar. An Apple iPad Air costs $480 in the United

Quantitative Problem: In the spot market, 1.88 Brazilian real can be exchanged for 1 U.S. dollar. An Apple iPad Air costs $480 in the United States. If purchasing power parity (PPP) holds, what should be the price of the same iPad Air in Brazil? Round your answer to the nearest whole number. Do not round intermediate calculations. reals

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