3. You are a corporate treasurer for Esso Oil. The quoted rate on dollar denominated euro commercial paper has just blipped down recently. Your firm can issue $10 million of 180-day euro commercial paper in the London markets at 3.45%. You can also invest the proceeds in the United States in comparable maturity negotiable dollar-denominated CDs, which are quoting 3.95%. a) (0.6) How much can Esso borrow today in the Euro CP market? b) (0.6) How much can Esso make after 180 days by investing in the U.S. CD market? c) (0.6') Ignoring any transactions costs, how much profit/loss can Esso make after 180 days by borrowing in the euro markets and investing in the United States?