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What is the potential profit could make per share traded

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On the Tokyo Stock Exchange, Honda Motor Company stock closed at ¥2,563 per share. Honda trades as and ADR on the NYSE. One underlying Honda share equals one ADR. That day, the USD/JPY spot exchange rate was 106.21.

Problem 1: Assuming that transaction costs are negligible, if Honda ADRs were trading at $28.55 when the underlying shares were trading in Tokyo at ¥2,563, what is the potential profit you could make per share traded. (USD, X.XX)

Reference no: EM132941181

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