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1. At todays spot exchange rates 1 U.S. dollar can be exchanged for 7 Mexican pesos or for 112 Japanese yen. You have pesos that

1. At todays spot exchange rates 1 U.S. dollar can be exchanged for 7 Mexican pesos or for 112 Japanese yen. You have pesos that you would like to exchange for yen. What is the cross rate between the yen and the peso; that is, how many yen would you receive for every peso exchanged ?

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