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PLEASE ANSWER THE FOLLOWING QUESTION ASAP... The foreign exchange department of Bank of America has a bid quote on Canadian dollars (C$) of C$01.1232/$. If

PLEASE ANSWER THE FOLLOWING QUESTION ASAP...

The foreign exchange department of Bank of America has a bid quote on Canadian dollars (C$) of C$01.1232/$. If the bank typically ties to make a bid-ask spread of 0.5 percent on these foreign exchange transactions, what will the ask rate have to be?

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