$(6$ points$)$ In the era before the Euro, there were many European currencies and opportunities for cross currency arbitrage. The following is an example from the $1970$s$!$ Assuming no transaction costs, suppose $1=$ US $$2\mathrm{.}4110$ in New York, US $$1=$ FF $3\mathrm{.}997$ in Paris, and FF $1=0\mathrm{.}1088$ in London. How could you take profitable advantage of these rates? Detail the trades and resulting profitability, if any, on a $$1$ million transaction.