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4. Triangular Arbitrage. Assume the following quotes: Citibank quotes U.S dollars per pound at $1.5400/, National Westminster quotes euro per pound at 1.6000/, Deutschebank quotes

4. Triangular Arbitrage. Assume the following quotes: Citibank quotes U.S dollars per pound at $1.5400/, National Westminster quotes euro per pound at 1.6000/, Deutschebank quotes dollars per euro at $0.9700/. Calculate how a market trader at Citibank with $1,000,000 can make inter-market arbitrage profit.

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