(Answered) In the spot market 91 pesos can be exchanged for 1 us

Finance

In the spot market, 9.1 pesos can be exchanged for 1 U.S. dollar. A pair of headphones cost $11.00 in the US. If purchasing power parity holds, what should the price of the same headphones be in Mexico. Round to two decimal places. Please include spreadsheet in solution, it is helpful to understanding and applying the concepts.

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