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Suppose the Japanese yen exchange rate is 76=$1, and the British pound exchange rate is 1=$1.61. a. What is the cross-rate in terms of yen

image text in transcribed Suppose the Japanese yen exchange rate is 76=$1, and the British pound exchange rate is 1=$1.61. a. What is the cross-rate in terms of yen per pound? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) b. Suppose the cross-rate is 127=1. What is the arbitrage profit per dollar used? (Do not round intermediate calculations and round your answer to 4 decimal places, e.g., 32.1616.) Answer is complete but not entirely correct

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