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07-01-2024
Business

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Suppose a Swedish company, Ikreal Co., issues ADRs in the United States. The price of a share of Ikreal stock is 124 krona, while the spot rate for krona is $0.27 per krona. What is the price of the ADR in the United States?
a. $33.48
b. $46.20
c. $33.48
d. $9.84

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