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3. By using the below mentioned quotes, calculate whether the market trader with $1000000 can make an arbitrage profit or not. If yes, how much

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3. By using the below mentioned quotes, calculate whether the market trader with $1000000 can make an arbitrage profit or not. If yes, how much is the arbitrage profit? (25 pts) Banks Bid Ask BNP Paribas $1.61x2/ $1.61x6/ Bank of Scotland 1.28x3/ 1.28x5/ Societe Generale $1.26x4/ $1.26x6/

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