If the price of silver in England is £7.10 per ounce, what is the expected price of silver in the United States if the spot exchange rate is $1 = £0.5275?
A) $7.6275 per ounce
B) $7.429 per ounce
C) $3.74525 per ounce
D) $13.4597 per ounce
Correct Answer:
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