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6.25 points UESTION 12 Use the following information to answer the next two questions. The US dollar/euro exchange rate is $1.67 while the Canadian dollar/US

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6.25 points UESTION 12 Use the following information to answer the next two questions. The US dollar/euro exchange rate is $1.67 while the Canadian dollar/US dollar exchange rate is C$1.25/$. You also observe that the actual euro/Canadian dollar cross exchange rate is .65/C$. Find the triangular arbitrage profit (in USD) available to someone that has access to $1,000,000. Round intermediate steps to four decimals and your final answer to two decimals. Do not use the dollar sign when entering your answer. 6.25 points Which of the following will occur to eliminate the arbitrage opportunity in the previous question? The Canadian dollar will appreciate against the euro The euro will appreciate against the US dollar. The US dollar will depreciate against the Canadian dollar. None of the above

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