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Trans$-$Atlantic Quotes. Separated by more than $3,000$ nautical miles and five time zones, money and foreign exchange markets in both London and New York are very efficient. The following information has been collected from the respective areas:

$\backslash$table$[[,$London,New York$],[$Spot exchange rate $(\frac{\text{\$}}{}),1\mathrm{.}3261,1\mathrm{.}3261],[1-$year Treasury bill rate,$3\mathrm{.}896\%,4\mathrm{.}495\%$