Suppose that the following situation exists in the foreign exchange market.1 Canadian dollar buys 9.47 South African rand.If the price of a bottle of South African wine is 53 rand, what is the price in Canadian dollars if purchase power parity exists?
A)$18.02
B)$53.00
C)$5.55
D)$5.60
E)$501.91

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The Answer of Suppose that the following situation exists in the foreign exchange market.1 Canadian dollar buys 9.47 South African rand.If the price of a bottle of South African wine is 53 rand, what is the price in Canadian dollars if purchase power parity exists?
A)$18.02
B)$53.00
C)$5.55
D)$5.60
E)$501.91

Suppose That the Following Situation Exists in the Foreign Exchange