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Currency Bid Rate Offer Rate EUR/USD 1.2310 1.2313 GBP/USD 1.7945 1.7949 USD/JPY 110.73 110.83 USD/CHF 1.2810 1.2815 USD/CAD 1.1514 1.1517 USD/BRL 2.1780 2.2345 EUR/JPY 134.10

Currency Bid Rate Offer Rate

EUR/USD 1.2310 1.2313

GBP/USD 1.7945 1.7949

USD/JPY 110.73 110.83

USD/CHF 1.2810 1.2815

USD/CAD 1.1514 1.1517

USD/BRL 2.1780 2.2345

EUR/JPY 134.10 134.50

Assume that you have 100,000,000 JPY. How much arbitrage profit can you generate by taking advantage of misallignment in the rates quoted above?

JPY 1,443,256

JPY 1, 344,706

EURO 804.90

EURO 814.90

Please show all of the calculations

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