value: 1.00 points Problem 31-5 Cross-Rates and Arbitrage Suppose the Japanese yen exchange rate is *75 $1, and the British pound exchange rate is 1 $1.54 a. What is the cross-rate in terms of yen per pound? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) 115.5 E Cross-rate b. Suppose the cross-rate is *120 1. What is the arbitrage profit per dollar used? (Do not round intermediate calculations and round your answer to 4 decimal places, e.g., 32.1616.) Arbitrage profit eBook & Resources References Difficulty: 1 Basic Worksheet Problem 31-5 Cross-Rates andSection: 31.2 Foreign Exchange Markets and Arbitrage Exchange Rates