A firm has just complete transactions in the US and France, and is now holding $500,000 and 300,000(EUR). The firm wishes to convert both amounts to brit pounds. The firms currency dealer provides this quotation:
EUR/USD: 0.7638 - 40
USD/GBP: 1.5400-04
What are the firms proceeds from the conversion?
a. 579,505.43 pounds
b. 499,832.06 pounds
c. 1,122,875.60 pounds
d. 579,982.71 pounds