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Question(s) / Instruction(s):

In the United States, we can buy a pair of shoes for $55. These shoes are identical in all aspects to a pair of shoes from Japan that be purchased for ¥6,000 including shipping costs. What percentage (relative to $55 U.S. cost) can we save by buying the shoes in Japan if the exchange rate is $1 for ¥120?
A) 9.13%
B) 9.11%
C) 9.09%
D) 9.07%

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