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Including the transaction costs of the bid-ask spread, the euro-pound cross exchange rate for a customer...

Including the transaction costs of the bid-ask spread, the euro-pound cross exchange rate for a customer who wants to sell euro and buy pounds can be computed as:

a) Sb(€£)=Sb($€)×1Sa(£$)Sb€£=Sb$€×1Sa£$

b) Sa(€/£) = Sa(€/$) × Sa($/£)

c) Sb(£/€) = Sb($/€) × Sb(£/$)

d) all of the options

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