Explanation

To find the AUD/USD spot rate, we need to use the given exchange rates:

• AUD/CHF = 1.4024 (AUD per 1 CHF)
• USD/CHF = 1.0943 (USD per 1 CHF)

We want AUD/USD, which is the amount of AUD per 1 USD.

We can derive this by dividing the AUD/CHF rate by the USD/CHF rate:

$\text{AUD/USD} = \frac{\text{AUD/CHF}}{\text{USD/CHF}}$

$\text{AUD/USD} = \frac{1.4024}{1.0943}$

$\text{AUD/USD} = 1.2815$

Step-by-step reasoning:

1. Both rates are expressed per 1 CHF
2. To eliminate CHF, we divide AUD/CHF by USD/CHF
3. This gives us AUD per USD: (AUD/CHF) ÷ (USD/CHF) = AUD/USD
4. Calculation: 1.4024 ÷ 1.0943 = 1.2815

Therefore, the AUD/USD spot rate is closest to 1.2815, which corresponds to option B.