You are a U.S.-based treasurer with $1,000,000 to invest. The dollar-euro exchange rate is quoted as...

You are a U.S.-based treasurer with $1,000,000 to invest. The dollar-euro exchange rate is quoted as $1.12 = €1.00 and the dollar-pound exchange rate is quoted at $1.28 = £1.00. If a bank quotes you a cross rate of £1.00 = €1.16, the intrinsic value for the cross rate is _________.

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