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Some companies cross-list their shares, meaning that their stock trades on more than one stock exchange. For example, BlackBerry (ticker symbol : BB), trades on

Some companies cross-list their shares, meaning that their stock trades on more than one stock exchange. For example, BlackBerry (ticker symbol : BB), trades on both the TSX and NASDAQ. If its price in Toronto is 23 Canadian dollars per share and anyone can exchange Canadian dollars (CAD) for U.S. dollars (USD) at the rate of 0.85 USD/CAD, what must BB's price be on NASDAQ? BB's price on NASDAQ must be $ USD. (Round to the nearest cent.)

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