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Assume that there is no transaction cost and you observe the following quotation: 1. HKD: USD 0.1250 2. USD: JPY 116.20 3. JPY: HKD 0.062

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Assume that there is no transaction cost and you observe the following quotation: 1. HKD: USD 0.1250 2. USD: JPY 116.20 3. JPY: HKD 0.062 From quotation 1 and 2, what is the cross rate for JPY1 in HKD. Using 4 numbers after decimal place in every step to avoid rounding error. Report 4 numbers after decimal place in your

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