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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

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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

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