Assume the following information:
Quoted Price
Value of Canadian dollar in U.S. dollars ........$.90
Value of New Zealand dollar in U.S. dollars ........$.30
Value of Canadian dollar in New Zealand dollars NZ$3..02

Given this information, is triangular arbitrage possible? If so, explain the steps that would reflect triangular arbitrage, and compute the profit from this strategy if you had $1 million to use. What market forces would occur to eliminate any further possibilities of triangular arbitrage?