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A currency trader observes that in the spot exchange market, 1 U.S. dollar can be exchanged for 3.7 Israeli Shekels or for 103 Japanese yen.

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A currency trader observes that in the spot exchange market, 1 U.S. dollar can be exchanged for 3.7 Israeli Shekels or for 103 Japanese yen. What is the cross-exchange rate between the yen and the shekel; that is, how many yen would you receive for every shekel exchanged? Do not round intermediate calculations. Round your answer to the nearest sen. Note: A sen is 1/100th of a yen. yen per shekel

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