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QUESTION 5 The Big Mac Index compares the prices of the McDonald's Corporation's Big Mac hamburger around the world, and subsequently determines the exchange rates

QUESTION 5

The "Big Mac Index" compares the prices of the McDonald's Corporation's Big Mac hamburger around the world, and subsequently determines the exchange rates for currencies. If a Big Mac costs $2.36 in Australia and 293 yen in Japan, what is the estimated exchange rate of yen per Australian dollar (/$) as hypothesised by the Hamburger index? (Input only numbers as your final answer. Round your answer to two decimal places.)

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