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Suppose the spot exchange rate for the Canadian dollar is Can$1.08 and the six-month forward rate is Can$1.10. b. Assuming absolute PPP holds, what is

Suppose the spot exchange rate for the Canadian dollar is Can$1.08 and the six-month forward rate is Can$1.10.

b.	Assuming absolute PPP holds, what is the cost in the United States of an Elkhead beer if the price in Canada is Can$3.45? (Round your answer to 3 decimal places, e.g., 32.161.)

Cost in U.S. dollars

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