What is the implied nominal exchange rate

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Reference no: EM13834847

The following are prices of the McDonald's Big Mac hamburger in China and the United States:

Price in the US = $4.25

Price in China = 12,775 Yuan

If the Law of One Price holds true, what is the implied nominal exchange rate? Enter your answer as the number of Yuan per dollar. Round to the nearest whole Yuan.

Reference no: EM13834847

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