Using the spot quotes below, determine the following:

USD equivalent

Country

BID

ASK

Canada $($Dollar$)$

$0\mathrm{.}8653$

$0\mathrm{.}8667$

Euro $$

$1\mathrm{.}4000$

$1\mathrm{.}4200$

a$.(2$ pts$.)$ Price that a currency dealer will pay in euro to buy Canadian dollars.

b$.(2$ pts$.)$ Price that a currency dealer will pay in Canadian dollars to buy euro.

c$.$ Bid ask spread for an italian currecy dealer buying and selling Canadian dollars