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Suppose the Japanese yen exchange rate is 84 = $1, and the British pound exchange rate is 1 = $1.52. a. What is the cross-rate

Suppose the Japanese yen exchange rate is 84 = $1, and the British pound exchange rate is 1 = $1.52.

a. What is the cross-rate in terms of yen per pound? ___

b. Suppose the cross-rate is 132 = 1. What is the arbitrage profit per dollar used?___

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