Suppose exchange rates between the U.S. dollar and the Mexican peso is 11.45 peso = $1 and the exchange rate between the U.S. dollar and the euro is $1 = 1.0866 euros. What is the cross-rate of the Mexican peso to the euro?
A) 9.49
B) 10.54
C) 12.44
D) 12.54
Correct Answer:
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