Reference no: EM131623986

Question: Harold Perto purchased 100 shares of Barclays, a U.K. financial services firm, when they were trading for £260 (pounds sterling) and the exchange rate between British pounds and U.S. dollars was $1.50 per pound. A few months later, Harold sold his Barclays shares at a price of £280, converting the proceeds back into dollars at an exchange rate of $1.25 per pound. How much money did Harold spend (in U.S. dollars) to purchase the shares, and how much did he receive when he sold them?