Consider the following exchange rate information: USD bid ask Fortx Rates [8! FE! 51"\" 3 Month 6 Month 12. Month Interest Rates 1:)\". 2.8.: 3Month 1.005 1.125 6Momh 1.030 1.150 12 Month 1.165 1.285 EUR bid 1.1452 1.1419 1.1393 1.1346 2.010 2.015 2.060 ask 1.1456 1.1428 1.1402 1.1355 2130 2135 2180 _L bid 0.00891 3 0.00893? 0.008961 0.00901 7' 0.1?2 0.1?1 -0.133 ask 0.00891 T 0.008949 0.00897 7 0.00903 8 0.142 0.141 0.179 GBP hid 1.6521 1.6401 1.6291 1.6056 3.55? 3.658 3.905 ask 1.6525 1.6425 1.6325 1.6110 3.?45 3.845 4.093 AUD bid 0.6158 0.6683 0.6618 0.6483 4.665 4.?27 4.903 1. Are there any spot~forward covered interest rate arbitrage opportunities available in the AUD~USD markets at any horizon? Start with $1M spot, and show the prot/ loss for each of the (6) possible round-trip arbitrages. 2. Working in IBM's Treasury Department, you need to borrow 10M USD for 6 months. Do you prefer to borrow USD directly1 or synthetically using the EUR? ask 0.67 63 0.6708 0.6653 0.65 38 4.966 5.028 5.204