Around the Horn. Assuming the following quotes, calculate how a market trader at Citibank with $1,000,000 can make an intermarket arbitrage profit. Citibank quotes U.S. dollar per pound $1.5771 1.00 National Westminster quotes euros per pound Deutschebank quotes U.S. dollar per euro 1.1649 1.00 $0.7943 1.00 Calculate the profit (loss) from the intermarket arbitrage profit through path #1 below: (Round to the nearest cent.) Path #1: US$ to euros to pounds to US$ Starting amount SA $ 1,000,000.00 Convert to euros at Deutschebank quote Convert euros to pounds at NatWest quote Convert pounds to US$ at Citibank quote Arbitrage gain (loss) 1,258,970.16 1,080,753.85 $ 1,704,456.90 $ 704,456.90 Calculate the profit (loss) from the intermarket arbitrage profit through path #2 below: (Round to the nearest cent.) Path #2: US$ to pounds to euros to US$ Starting amount Convert to pounds at Citibank quote Convert pounds to euros at NatWest quote $ 1,000,000.00 634,075.20 5