Exercise $11-1($Static$)$ Exchange Rates LO $11-1$

Suppose the direct foreign exchange rates in U$.$S$.$ dollars are

$1$ Canadian dollar $=,$$$0\mathrm{.}74$

Required:

a$.$ What are the indirect exchange rates for the British pound and the Canadian dollar?

b$.$ How many pounds must a British company pay to purchase goods costing $$8,000$ from a U$.$S$.$ company?

c$.$ How many U$.$S$.$ dollars must be paid for a purchase costing $4,000$ Canadian dollars?

Answer is complete but not entirely correct.

Complete this question by entering your answers in the tabs below.

What are the indirect exchange rates for the British pound and the Canadian dollar?

Note: Round your answers to $4$ decimal places.