Suppose the spot exchange rate for the Canadian dollar is Can$1.09. What is the value of the U.S. dollar per Canadian dollar? Assuming absolute PPP holds, what is the cost in the United States of an Elkhead beer if the price in Canada is Can$2.50? Can$/U.S.$ Price of beer in Canada 1.09 2.50 Complete the following analysis. Do not hard code values in your calculations. U.S.$/Can$ Price of beer in U.S