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Assume the bid rate of a Norwegian krone is $0.1302 while the ask rate is $.1367 at Bank A. Assume the bid rate of the

Assume the bid rate of a Norwegian krone is $0.1302 while the ask rate is $.1367 at Bank A. Assume the bid rate of the Norwegian krone is $.1237 while the ask rate is $.1299 at Bank B. Given this information, what would be your gain if you use $1,000,000 and execute locational arbitrage? That is, how much will you end up with over and above the $1,000,000 you started with?

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