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2) Using the three exchange rates you listed in the step above, show the profit earned through the process of triangular arbitrage on June 1,2022
2) Using the three exchange rates you listed in the step above, show the profit earned through the process of triangular arbitrage on June 1,2022 if there were no transaction costs and you were to begin with the equivalent of $30,000,000 (U.S.). Show all calculations for the necessary steps. (Hint: Look at Chapter 5 Sample Problems 5 and 6.)
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