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3. Given the following bid/ask quotations, show an arbitrage strategy and show the profit that can be made if you start with $100,000: USD/GBP USD/SGD

3. Given the following bid/ask quotations, show an arbitrage strategy and show the profit that can be made if you start with $100,000: USD/GBP USD/SGD GBP/SGD Bid Ask Bid Ask Bid Ask .706442 .706458 1.306179 1.306283 1.849897 1.849911

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