Suppose the Japanese yen exchange rate is ¥82 = $1, and the British pound exchange rate is £1 = $1.47.(Enter your answer as directed, but do not round intermediate calculations.)
Required:
(a) What is the cross-rate in terms of yen per pound? (Round your answer to 2 decimal places (e.g., 32.16).)
Cross-rate ¥ /£
(b) Suppose the cross-rate is ¥124 = £1. What is the arbitrage profit per dollar? (Round your answer to 4 decimal places (e.g., 32.1616).)
Arbitrage profit per dollar $