Angel, a financial analyst based in New Zealand, recently observes three cross exchange rates in the market:

NZD$/$GBP $=2\mathrm{.}07$;

NZD$/$EUR $=1\mathrm{.}78$;

GBP$/$EUR $=0\mathrm{.}85.$

She has learned from the finance class that there is an arbitrage opportunity if the implied cross$-$border exchange

rate is different from market exchange rate. Assuming that Angel is able to borrow NZD $1,000,000$ at interest rate

of $5\%$ p$.$a$.$ compounding annually.

Use the information above to answer the questions that follow.

$($a$)$ According to the market cross exchange rate, triangular arbitrage opportunity

because

$($b$)$ The implied cross exchange rate of GBP$/$EUR should be

$($c$)$ If Angel decides to explore triangular arbitrage profit $($if any$)$ starting from borrowing home currency NZD

$1,000,000,$ she should first buy GBP using NZD$,$ then sell GBP and buy EUR $vv,$ and finally covert to NZD$.$

$($d$)$ If we do not consider the borrowing cost, the triangular arbitrage profit is $

Note: Please provide your answer with two decimal points in the format of $.($for example, if the answer is

$12\mathrm{.}345,$ type in $12\mathrm{.}35).$