1. Based on the exchange rates below, please answer the following questions: Bid Ask Dollar/Pound $1.25/ $1.60/ Dollar/Yen $0.008/ $0.010/ a. Please calculate the implied bid and ask rates for Pound/Yen (the amount of Pound per Yen) b. If you start with 100 Pound, you sell them for dollars, and then sell the dollars for Yen, how much Yen would you have at the end? c. If you start with 100,000 Yen, you sell them for dollars, and then sell the dollars for Pound, how much Pound would you have at the end