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Please show all your work. Answers only without any evidence of your work will receive zero credit. 1) Bid and Ask quotes for the Euro

Please show all your work. Answers only without any evidence of your work will receive zero credit.

1) Bid and Ask quotes for the Euro (EUR) and Mexican peso (MXN) are given below:

USD 1.1905 1.2155/EUR

USD 0.0485 0.05140/ MXN

Calculate the bid and ask cross rates for the EUR priced in MXN terms:

S (MXN/bid EUR) and S (MXN/ask EUR).

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