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Suppose that you hold a piece of land in the City of London that you may want to sell in one year. As a U.S. resident, you are concerned with the dollar value of the land. Assume that, if the British economy booms in the future, the land will be worth $20 and one British pound will be worth $1.33. If the British economy slows down, on the other hand, the land will be worth less, i.e., E21 million, but the pound will be stronger, i.e., $1 44/f. You feel that the British economy will experience a boom with a 50% probability and a slow-down with the remaining probability. Estimate the expected value of the spot rate (USD XXXXX) Selected Answer: 20.7232 Correct Answer: 1.3850+ 0 Response Feedback: Get E(S)