(Answered) Banco herrero wants to make a bid-ask spread of 055 percent

Finance

Banco Herrero wants to make a bid-ask spread of 0.55 percent on its foreign exchange transactions. If the ask rate on the Mexican peso (MP) is MP10.4192/$, what does the bid rate have to be? (Do not round your intermediate calculation. Round your final answer to four decimal places.)

MP10.4192/$
MP10.4249/$
MP10.3619/$
MP10.2165/$

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