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1. You observe the following exchange rate quotes: $ 1.2100 - 1.2425 / EUR GBP 0.7421 - 0.7532 / USD GBP 0.8800 - 0.9105 /

1. You observe the following exchange rate quotes:

$ 1.2100 - 1.2425 / EUR

GBP 0.7421 - 0.7532 / USD

GBP 0.8800 - 0.9105 / EUR

If you start with $ 1 million, what arbitrage profit in dollars can you make using triangular arbitrage?

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