1. WSM Wine Importers, Inc. purchased 75,000 cases of French wine at a cost of 6,000,000 Euros. If the current exchange rate is 0.7576 Euros to the U.S. dollar, what is the purchase price of the wine in U.S. dollars?

2. You purchased 3,000,000 Indian rupees in London at an exchange rate of 54.86 to the dollar and simultaneously sold the rupees in Bahrain at an exchange rate of 55.12 to the dollar. What is the name for such a transaction?

3. The direct quote in New York is .015 dollar per Pakistani Rupee. The direct quote in Pakistan is 60 rupees per dollar. This imbalance in rates can be corrected by arbitrage. A trader will ________ rupees in New York and ________ rupees in Pakistan, causing the direct quote in New York to ________.