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Quantitative Problem: In the spot market, 3.50 Brazilian reals can be exchanged for 1 U.S. dollar. An Apple iPad Air costs $590 in the United

Quantitative Problem: In the spot market, 3.50 Brazilian reals can be exchanged for 1 U.S. dollar. An Apple iPad Air costs $590 in the United States. If purchasing power parity (PPP) holds, what should be the price of the same iPad Air in Brazil? Do not round intermediate calculations. Round your answer to the nearest whole number.

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