The following quotes for the Mexican peso and the Australian dollarCalculate the cross rates for the Austrilian Dollar (A$) in $, both bid and ask. Of the six trades available above, which three trade

The following quotes for the Mexican peso and the Australian dollar

Calculate the cross rates for the Austrilian Dollar (A$) in $, both bid and ask. Of the six trades available above, which three trades result in a profit?

Make sure to show how you calculate the two cross rates. Make sure that it is clear which currency you are buying or selling and whether it is at the bid or ask price.

Quoted Bid Price

Quoted Ask Price

Value of an Australian dollar (A$) in $

$0.67

$0.69

Value of Mexican peso in $

$.074

$.077

Value of an Australian dollar in Mexican pesos

MXP8.2

MXP8.5