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Assuming that there are no transaction costs and supposing that 1 =$1.563740 in New York, $1 = 0.796178 in Paris, and 1 = 0.803199 in
Assuming that there are no transaction costs and supposing that 1 =$1.563740 in New York, $1 = 0.796178 in Paris, and 1 = 0.803199 in London, calculate the arbitrage opportunities that exist based on these rates. (Briefly show or explain how you arrived at your solutions to get partial credit if one or more of your answers are incorrect.)
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