Suppose that 1 British pound currently equals 1.62 U.S. dollars and 1 U.S. dollar equals 1.62 Swiss francs. What is the cross exchange rate between the pound and the franc?
A. 1 British pound equals 3.2400 Swiss francs
B. 1 British pound equals 2.6244 Swiss francs
C. 1 British pound equals 1.8588 Swiss francs
D. 1 British pound equals 1.0000 Swiss francs
E. 1 British pound equals 0.3810 Swiss francs
Answer: B
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