Assume you are given the following quotes in the interbank market: .8065 - 97 (US$/CDN) 1.7013 - 36 (US$/BP) - What is the implied Cross Rate (Bid and Ask) for CDN$ in term of BP? (BP/CDN$)Now assume that a FOREX broker provides a quoted cross rate (BP/CDN$) of: .4762 - 70 Explain, and, show in detail (specific trades you would engage in, along with amounts of currency) how much of a triangular currency arbitrage profit you could make using US$ 1,000,000