b) Assume that a UK bank has quoted the US dollar at $1.60 to the British sterling pound (1), the South African rand (ZAR) at ZAR 22.1 to the British sterling pound (1), and the third exchange rate at $0.054 for one South African rand (ZAR 1). If, as a UK businessman or businesswoman, you wanted to convert ZAR 100,000 to British sterling pounds, would it be preferable to convert at the direct rate of 1 = ZAR 22.1 or use the cross exchange rate by converting the ZAR into dollars and then the dollars into British sterling pounds? Your response should contain necessary computations