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A currency trader observes that in the spot exchange market, 1 U.S. dollar can be exchanged for 3.25 Israeli shekels or for 112 Japanese yen.

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A currency trader observes that in the spot exchange market, 1 U.S. dollar can be exchanged for 3.25 Israeli shekels or for 112 Japanese yen. What is the cross- exchange rate between the yen and the shekel; that is, how many yen would you receive for every shekel exchanged

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