Assuming the following information (there is no bid and no ask price, only spot. There are no other charges for exchange): City Bank present the following exchange rates 1 Canadian dollar (CAD) = 0.91 $ 1 New Zealand dollar (N2D) = 0.3 $ 1 CND = 3.08 NZD NDR Bank presented the exchange rates: 1 Canadian dollar (CAD) = 0.94 $ 1 New Zealand dollar (NZD) = 0.3 $ 1CND = 3.02 NZD Given this Information, from these two banks, is triangular arbitrage possible? If so, explain the steps that would reflect triangular arbitrage, and compute the profit from this strategy if you have $ 2,000,000 to use. (correct answer without calculation will get only 1 mark). Assuming the following information (there is no bid and no ask price, only spot. There are no other charges for exchange): City Bank present the following exchange rates 1 Canadian dollar (CAD) = 0.92 $ 1 New Zealand dollar (NZD) = 0.3 $ 1 CND = 3.06 NZD NDR Bank presented the exchange rates: 1 Canadian dollar (CAD) = 0.96 $ 1 New Zealand dollar (NZD) = 0.3 $ 1CND = 3.01 NZD Given this information, from these two banks, is triangular arbitrage possible? If so, explain the steps that would reflect triangular arbitrage, and compute the profit from this strategy if you have $ 3,000,000 to use. (correct answer without calculation will get only l mark)