1. An FX dealer thinks that she has found an arbitrage opportunity. Assume that the bid rate of a Brazilian real is A$.280 while the ask rate is A$.282 at Banco do Brazil. Assume that the bid rate of a Brazilian real is A$.285 while the ask rate is A$.288 at CBA. Given this information, what is her gain if she uses A$1,000,000 and execute locational arbitrage?

   	A.	A$0.
   	B.	A$28,571.
   	C.	A$21,277.
   	D.	A$17,852.
   	E.	A$10,638.