A product sells for $750 in the United States. The spot exchange rate is $1 to 1.56 Swiss francs. If purchasing power parity (PPP) holds, what is the price of the product in Switzerland?
A. 1,462.50
B. 1,392.30
C. 1,228.50
D. 1,170.00
E. 947.70
Answer: D
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