In an electrochemical cell, oxidation and reduction reactions take place simultaneously. When zinc is used as the anode and copper(II) sulfate is the cathode in a Daniell cell, the following two half-reactions occur:
Anode: Zn(s) → Zn2+(aq) + 2e-
Cathode: Cu2+(aq) + 2e- → Cu(s)
Given that the standard electrode potentials (E°) for these half-reactions are +0.34 V for the copper half-reaction and -0.76 V for the zinc half-reaction, calculate the standard cell potential (E°cell) for the Daniell cell. Which of the following statements is true regarding this cell potential?