A corporate treasury with operations in New York simultaneously calls Citibank in mid-town (New York City) and Barclays in London. The two banks give the following quotes at the same time on the euro. Can you make an arbitrage profit? Assumptions Values Beginning funds $ 6,000,000.00 Citibank NY quotes: Bid ($/euro) 1.1840 Ask ($/euro) 1.1860 Barclays London quotes: Bid ($/euro) 1.1830 Ask ($/euro) 1.1850 Arbitrage Strategy #1 Initial investment Arbitrage Profit (Loss) Arbitrage Strategy #2 Initial investment Arbitrage Profit (Loss)