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Assume the following information for a bank quoting on spot exchange rates: Exchange rate of pound in U.S. $ = $1.50 Exchange rate of Singapore

Assume the following information for a bank quoting on spot exchange rates:

Exchange rate of pound in U.S. $	=	$1.50
Exchange rate of Singapore dollar in U.S. $	=	$.30
Exchange rate of pound in Singapore dollars	=	S$4.95

Given the information and you have $1,000,000. Is triangular arbitrage possible? If so, what is your arbitrage strategy?

The arbitrage strategy is ?

Please do not round during intermediate steps and round your final answer to two decimal places.

please show work

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