b. The American Bank quotes a bid rate of $0.028 and an ask rate of $0.030 for the Indian rupee; the European Bank quotes a bid rate of 0.026 and an ask rate for 0.028 per rupee, and a National bank quotes a bid rate of $1.00 and an ask rate of $1.02 for the euro. If you start with $1,000 and engage in arbitrage, how much money will you make after one round of trading? What kind of arbitrage would you be engaged in? Using the $1000, you can buy 35714.29 Rupees at a $.028 rate. Then you can sell these rupees at European Bank for 928.57 Euros at a rate of .026. you can then convert euros to dollars making it $944.45. Doesn't this need to be greater than $1000