calls Citibank in New York City and Barclays in London. The banks give the following quotes on the euro simultaneously.

$\backslash$table$[[$Citibank NYC$,$Barclays London$],[$USD$0\mathrm{.}75622=$ EUR$1\mathrm{.}00,$USD$0\mathrm{.}75160=$ EUR$1\mathrm{.}00],[$USD$0\mathrm{.}75662=$ EUR$1\mathrm{.}00,$USD$0\mathrm{.}75172=$ EUR$1\mathrm{.}00]]$

Using $$5\mathrm{.}5$ million or its euro equivalent, determine if and how the corporate treasury could make geographic arbitrage profit with the two different exchange rate quotes.

Calculate the first arbitrage opportunity below: $($Round to the nearest cent.$)$

Arbitrage Strategy #$1$

Initial investment

$ $5,500,000-60$