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As a percentage of an arbitrary starting amount, about how large would trans- action costs have to be to make triangular arbitrage between the

As a percentage of an arbitrary starting amount, about how large would trans- action costs have to be to make triangular arbitrage between the exchange rates SSET/S = SFr 1.7223/$, SS/* = $0.009711/, and S/SFr = 61.740/SFr unprof- itable?

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