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(Related Problem 1 of Chapter 13) On the Tokyo Stock Exchange, Honda Motor Company stock closed at 1,999 per share on Monday, June 6, 2016.

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(Related Problem 1 of Chapter 13) On the Tokyo Stock Exchange, Honda Motor Company stock closed at 1,999 per share on Monday, June 6, 2016. Honda trades as and ADR on the NYSE. If 4 underlying Honda share equals one ADR. On June 6, 2016, the /$ spot exchange rate was 114/$1.00. At this exchange rate, what is the no-arbitrage U.S. dollar price of one ADR? (if your answer is $12.34, just enter "12.34") Connect

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