You are given the following pair wise exchange rates euro1, Accounting Basics

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You are given the following pair wise exchange rates euro1

You are given the following pair wise exchange rates: €1 = $1.1979 and £1 = $1.3125. (Here are the same exchange rates in a different format: $1.1979/€ and $1.3125/£.) (a) Calculate the cross-rate of euros per pound. (10 points) (b) Calculate the cross-rate of pounds per euro.

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Accounting Basics: You are given the following pair wise exchange rates euro1

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Accounting Basics: You are given the following pair wise exchange rates euro1

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