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c) You observe the following quotes for the EUR / USD in the spot market from two banks: Deutsche Bank Bid Ask 1.18102 1.18102 Bank

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c) You observe the following quotes for the EUR / USD in the spot market from two banks: Deutsche Bank Bid Ask 1.18102 1.18102 Bank of America Bid Ask 1.18094 1.18100 Do these quotes imply the possibility of earning a profit by using locational arbitrage? If so, calculate the potential profit if you are able to use EUR 500,000. If not, explain why arbitrage is not possible

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