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 $1,000,000 to use. What market forces would occur to eliminate any further possibilities of triangular arbitrage?