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The spot exchange rate is $0.113 per Mexican peso. If the dollar appreciates by 9%, how many dollars would be required to buy a peso?

The spot exchange rate is $0.113 per Mexican peso. If the dollar appreciates by 9%, how many dollars would be required to buy a peso? 1) $0.1232 2) $0.1198 3) $0.0996 4) $0.1088 5) $0.1028

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