A German firm is receiving a $10,000 payment that it wishes to convert into euros. It receives the following two quotes from a bank: E$/ = 0.9105 and…

A German firm is receiving a $10,000 payment that it wishes to convert into euros. It receives the following two quotes from a bank: E$/€ = 0.9105 and E€/yen= 0.9110. What is the amount of the payment in euros?

a) 9105 euros b) 9110 euros c) 10977 euros d) 10983 euros

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