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Sometimes the initial pricing depends on your apparent IP (Kobo tries to match you up with a country) but once you're logged in it's supposed to give you the pricing that matches up with the address in your account, even if you're lying about it and/or "vacationing" overseas.
But sometimes the Kobo system is kind of wonky and their search engine is often made of fail anyway.
ETA: It says it's $3.49 CAD for me in Canada.
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