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The U.S. inflation rate is 2.46% annualized, and the Mexican inflation rate is 2.29% annualized. Today's spot rate of the Mexican peso is $0.2162. Use

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The U.S. inflation rate is 2.46% annualized, and the Mexican inflation rate is 2.29% annualized. Today's spot rate of the Mexican peso is $0.2162. Use the PPP model to predict the peso's spot exchange rate in a year. Round to four decimals. Example $1.1234

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