Suppose a U$.$S$.$ multinational company needs to buy Swiss Franc but the exchange rate

between US dollar $($USD$)$ and Swiss Franc $($CHF$)$ is not favorable for the company because

of a high bid$-$ask spread. However, the currency pair between Swiss Franc and Euro $($EUR$)$

is favorable due to its low bid$-$ask spread. So$,$ as the forex manager of the company, you

want to find the cross$-$exchange rate between Swiss Franc and Euro. Assume the Swiss

franc is equal to $$1\mathrm{.}111,$ and the Euro is equal to $$1\mathrm{.}07.$ The value of the Swiss Franc is

$1\mathrm{.}04$ USD

$1\mathrm{.}08$ EUR

$1\mathrm{.}04$ EUR

$1\mathrm{.}08$ USD