You are provided with the following exchange rate quotations:

	American Terms
Bank quotations	Bid	Ask
British pounds	$1.9712	$1.9717
Euros	$1.4738	$1.4742

Use the information in the table above to calculate the bid price of pounds in terms of euro (/).

One of the following answers will be correct:

a. 1.3371

b. 1.3378

c. 0.7475

d. 0.7479

Show your workings and the correct answer in the space provided below.

For example write your answer as follows in the space provided below: Spot ask (Euro/Pound) = 1.4670/1.3980 = 1.0494