If a U$.$S$.$ importer can purchase $10,000$ British pounds for $$7,100,$ the rate of exchange is

Multiple Choice

$$1=7\mathrm{.}1$ British pounds in the United States.

$$7\mathrm{.}1=1$ British pounds in the United States.

$$0\mathrm{.}71=1$ British pound in the United States.

$$1=0\mathrm{.}71$ British pounds in the United States.