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C. Brokers X, Y and Z provide the following exchange quotations: Broker X: USD1.4562 per GBP- Broker Y: USD1.1135 per EUR- Broker Z: GBPO.7738 per

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C. Brokers X, Y and Z provide the following exchange quotations: Broker X: USD1.4562 per GBP- Broker Y: USD1.1135 per EUR- Broker Z: GBPO.7738 per EUR Suppose an investor has USD1 million. Calculate the arbitrage profit (in USD) the investor can make by using the quotations from the 3 brokers above. (10 marks) t

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