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31. Use the information presented below to answer questions 31-32. A NZ manufacturer earns receipts in EUR from exports to France. At the same time,

31.

Use the information presented below to answer questions 31-32.

A NZ manufacturer earns receipts in EUR from exports to France. At the same time, the company imports component parts from Australia, incurring commitments in AUD. Rates across the currencies are quoted as:

USD/EUR 0.8521-0.8561

USD/AUD 1.3650-1.3690

NZD/AUD 0.6856-0.6905

Calculate the EUR/AUD cross-rate for the bid and ask quotes.

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