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A New York Bank quotes for the bid rate for pound at $ 1 . 4 3 6 0 and the ask rate at $

A New York Bank quotes for the bid rate for pound at $1.4360 and the ask rate at $1.4370 and a London
Bank quotes for the bid rate for the pound at $1.4202 and the ask rate is $1.4325. An arbitrager has working
capital of $1,000,000. How much would the arbitrager have if the arbitrager carried out a locational arbitrage?

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