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Assume the following bid and ask rates of the pound for two banks as shown below: Bid Ask Bank A $1.41 $1.43 Bank B $1.35
Assume the following bid and ask rates of the pound for two banks as shown below:
Bid | Ask | |
Bank A | $1.41 | $1.43 |
Bank B | $1.35 | $1.37 |
What is the profit from this locational arbitrage if you have $968,482 to use? Round your final answer to two decimal places.
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