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= Suppose the spot ask exchange rate, sa($/), is $1.65 = 1.00 and the spot bid exchange rate, sb($/), is $1.64 = 1.00. If you

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= Suppose the spot ask exchange rate, sa($/), is $1.65 = 1.00 and the spot bid exchange rate, sb($/), is $1.64 = 1.00. If you were to buy $10,000,000 worth of British pounds and then sell them five minutes later, how much of your $10,000,000 would be "eaten" by the bid-ask spread? = $1,000,000 $60,606 $100,000 $52,632 None of the options

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