Suppose hockey skates sell in Canada for 105 Canadian dollars, and 1 Canadian dollar equals 0.71 U.S. dollars. If purchasing power parity (PPP) holds, what is the price of hockey skates in the United States?
A) $60.39
B) $67.10
C) $74.55
D) $82.01
E) $90.21
Correct Answer:
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