Some companies cross-list their shares, meaning that their stock trades on more than one stock exchange. For example, BlackBerry Limited, the maker of BlackBerry mobile devices, trades on both the Toronto Stock Exchange and NASDAQ. If its price in Toronto is Canadian dollars per share and anyone can exchange Canadian dollars for U. S. dollars at the rate of per , what must BBRY's price be on NASDAQ?

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Explanation:

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Some companies cross-list their shares, meaning that their stock trades on more than one stock exchange. Forexample, BlackBerry Limited, the maker of BlackBerry mobile devices, trades on both the Toronto StockExchange and NASDAQ. If its price in Toronto is 56 Canadian dollars per share and anyone can exchange Canadian dollars for U.S. dollars at the rate of US$0.87 per C$1.00, what must BBRY's price be on NASDAQ?

Price in Toronto is given as:

= C$ 56 per share

Exchange rate is given as:

= US $ 0.87 per C$ 1.00

Therefore, BBRY's price be on NASDAQ will be:

= (56/1) x 0.87

= $48.72

Hence, BBRY's price be on NASDAQ will be $48.72

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