A box of chocolate candy costs 28.80 Swiss francs in Switzerland and $20 in the United States. Assuming that purchasing power parity (PPP) holds, what is the current exchange rate?
A. 1 U.S. dollar equals 0.69 Swiss francs
B. 1 U.S. dollar equals 0.85 Swiss francs
C. 1 U.S. dollar equals 1.21 Swiss francs
D. 1 U.S. dollar equals 1.29 Swiss francs
E. 1 U.S. dollar equals 1.44 Swiss francs
Answer: E
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