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Problem 17-01 Cross Rates At today's spot exchange rates 1 U.S. dollar can be exchanged for 9 Mexican pesos or for 110.34 Japanese yen. You

Problem 17-01
Cross Rates
At today's spot exchange rates 1 U.S. dollar can be exchanged for 9 Mexican pesos or for 110.34 Japanese yen. You have pesos that you would like to exchange for yen. What is the cross rate between the yen and the peso; that is, how many yen would you receive for every peso exchanged? Round your answer to two decimal places.

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