1.

If the $/ bid and ask prices are S^b($/) = 1.50 and S^a($/) = 1.51, respectively, the corresponding /$ bid and ask prices S^b(/$) and S^a(/$) are

a. 0.6623 and 0.6667.

b. cannot be determined with the information given.

c.1.51 and 1.50.

d.0.6667 and 0.6623.

In US $								Per US $
Bank Quotations	Bid				Ask				Bid				Ask
British pounds	$	1.9712			$	1.9717				0.5072				0.5073
Euros	$	1.4738			$	1.4742				0.6783				0.6785

The ask price of euro-pound S^a(/) is _______ .