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3. (15 points) Given the following quotes, explain how a market trader at State Street Corporation (NYSE:STT) with $1,000,000 in available funds can make an

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3. (15 points) Given the following quotes, explain how a market trader at State Street Corporation (NYSE:STT) with $1,000,000 in available funds can make an intermarket arbitrage profit, and calculate the expected profit. $ 1.380/ Citibank quotes U.S. dollar per pound National Westminster quotes euros per pound Deutsche Bank quotes U.S. dollar per euro 1.290/ $1.105/

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