At today's spot exchange rates 1 U.S. dollar can be exchanged for 12 Mexican pesos...
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At today's spot exchange rates 1 U.S. dollar can be exchanged for 12 Mexican pesos or for 111.7 Japanese yen. You have pesos that you would like to exchange for yen. What is the cross rate between the yen and the peso; that is, how many yen would you receive for every peso exchanged? Do not round intermediate calculations. Round your answer to two decimal places.
___ yen per peso
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