(b) Suppose in New York the pound and Swiss franc trade at the following exchange rates: 0.6574 $/, and 0.9454 $/CHF. In London, the pound equivalent rate of the Swiss franc is 1.5080 /CHF. Find the profit to be made on $1,000,000. Show all your calculation and drop the decimal points except for the exchange rate. Consider the case of the exchange rate between the U.S. dollar and German euro, where S is the nominal German-euro-per-U.S.- dollar exchange rate in Table 1. Indicate the formula and find the real exchange rate in year 2019 and 2020. Based on the findings, what can you conclude on the value of U.S. dollar relative to German euro? (Please use four decimal points) Table 3: Year S U.S. CPI German CPI 102 2019 0.7 220 2020 0.9 235 107 Note: CPI stands for Consumer Price Index (d) Policymakers may intervene in foreign exchange market if they prefer their currency value to remain stable relative to another currency. Explain how Australian policymakers anchor the value of their currency when there is an increase in the demand for Australian goods by Malaysian consumers.