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3. Macquarie Group Limited is a global diversified financial group listed on the Australian Stock...

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3. Macquarie Group Limited is a global diversified financial group listed on the Australian Stock Exchange currently. Suppose that a U.S. investor bought one Macquarie stock share one year ago when the stock price was A$91.66 and the exchange rate between the U.S. dollar and Australian dollar was $0.7226/A$. The investor just sold the share. The current stock price is A$113.41 and the current exchange rate is $0.7567/A$. Compute the rate of return on this Australian stock investment in terms of the U.S. dollars

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