The ADR of a British Firm Is Convertible into 3

question 97

Multiple Choice

The ADR of a British firm is convertible into 3 shares of stock. The share price of the firm was 30 pounds when the British market closed. When the U.S. market opens, the pound is worth $1.63. The price of this ADR should be $____.

• A) 48.90
• B) 146.70
• C) 55.21
• D) None of these are correct.

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