An investor is examining exchange rates in London and New York. For simplicity, all rates are quoted versus the U.S. dollar. In New York: the British pound rate is $1.57, the euro rate is $1.48, the Canadian dollar rate is 0.74 Canadian dollar, and the Yen rate is 108 Yen.

In London: the British pound rate is $1.61, the euro rate is $1.44, the Canadian dollar rate is 0.77 Canadian dollar, and the Yen rate is 110 Yen.

If you were looking to buy Yen, where would you buy it?

	A.	London
	B.	Either New York or London
	C.	New York

An investor is examining exchange rates in London and New York. For simplicity, all rates are quoted versus the U.S. dollar. In New York: the British pound rate is $1.57, the euro rate is $1.48, the Canadian dollar rate is 0.74 Canadian dollar, and the Yen rate is 108 Yen.

In London: the British pound rate is $1.61, the euro rate is $1.44, the Canadian dollar rate is 0.77 Canadian dollar, and the Yen rate is 110 Yen.

What is the Canadian dollar/British pound cross rate in London?

	A.	0.81
	B.	1.16
	C.	1.24
	D.	0.86