Chapter 3.6, Problem 2C

An exchange rate is a number that describes how much of one currency you can trade for another currency. For example, if the U.S. exchange rate for Canadian currency is 1.2, it means that you could trade one U.S. dollar for $1.20 Canadian. When travelers talk about how expensive or cheap a certain country is, it’s often a reflection of the exchange rate. The Big Mac costs mentioned earlier? The average cost in the U.S. in July 2016 was $5.06. In Russia it was just $2.15, and in Norway the cost was almost $6.

Write the rate above as a conversion factor with U.S. dollars in the denominator.