In U.S. dollars this device would cost $55.
Exchange rate is the value of a currency in terms of another currency. It is the rate at which a currency would be exchanged for another currency. Based on the information provided in the question, $1 exchanges for 123.17 yen.
Price of the device in US dollars = cost of the device in yen / exchange rate
6774.35 yen / 123.17 yen = $55
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