Bank of Northern Vermont has determined that its inventory of 30 million euros () and 25 million British pounds () is subject to market risk. The spot exchange rates are $1.25/ and $1.60/, respectively. The 's of the spot exchange rates of the and , based on the daily changes of spot rates over the past six months, are 55bp and 45bp, respectively. Determine the bank's 10-day VAR for Euro. Use adverse rate changes in the 99 th percentile. $1,420,672.06$1,621,672.06$1,519,672.06$1,819,372.06$1,119,682.06