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4. Assume that the following spot exchange rates exist today: 1CS11=$1.50=$0.75=C22 Assume no transaction costs. Based on these exchange rates, can triangular arbitrage be used

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4. Assume that the following spot exchange rates exist today: 1CS11=$1.50=$0.75=C22 Assume no transaction costs. Based on these exchange rates, can triangular arbitrage be used to eam a profit on $100,000 ? Explain all intermediate transactions involved. (10 points)

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