Some companies cross-list their shares, meaning that their stock trades on more than one stock exchange. For
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Some companies cross-list their shares, meaning that their stock trades on more than one stock exchange. For example, suppose TrenchCall Limited (TRNC), a maker of mobile devices, trades on both the Toronto Stock Exchange and NASDAQ. If its price in Toronto is 48 Canadian dollars per share and anyone can exchange Canadian dollars for U.S. dollars at the rate of US$0.95 per C$1.00, what must TRNC’s price be on NASDAQ?
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Determining TRNCs Price on NASDAQ 1 Convert the price in Toronto Stock Exchange to U...View the full answer
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Related Book For 
Fundamentals Of Corporate Finance
ISBN: 9781292437156
5th Global Edition
Authors: Jonathan Berk, Peter DeMarzo, Jarrad Harford
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