Question
today the stock price of Genevo Company (based in Switzerland) is priced at swiss franc (SFr) 75.19 per share. The spot rate of the SFr
today the stock price of Genevo Company (based in Switzerland) is priced at swiss franc (SFr) 75.19 per share. The spot rate of the SFr is $0.65. During the next year, you expect that the stock price of Genevo Company will increase by 2.12%. You also expect that the Swiss franc will appreciate against the U.S. dollar by 1.56% during the next year. You own American depository receipts (ADRs) that represent Genevo stock. Each share that you own represents one share of the stock traded on the Swiss stock exchange. What is estimated value of ADR per share in one year? (Do not round intermediate calculations and enter your answer rounded to 2 decimal places)
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