If the price of silver in England is £6.85 per ounce, what is the expected price of silver in the United States if the spot exchange rate is $1 = £0.5426?
A) $7.3926 per ounce
B) $7.921 per ounce
C) $3.7168 per ounce
D) $12.6244 per ounce
Correct Answer:
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