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Suppose that a commercial banks current quote for transactions involving the United States dollar is A$1.3214 A$1.3298. (a) State the ask and bid prices for

Suppose that a commercial banks current quote for transactions involving the United States dollar is A$1.3214 A$1.3298.

(a) State the ask and bid prices for the bank.

(b) Calculate the bid/ask spread for the bank.

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