Discuss whether there is an arbitrage opportunity or not. If there is, briefly explain how you can make money. 2) American Terms European Terms Bank Quotations Bid Ask Bid Ask British pounds $1.9712 $1.9717 0.5072 0.5073 Euros $1.4738 $1.4742 0.6783 0.6785 a) Using the table above, calculate (by showing your work) the bid price of pounds in terms of euro? b) Using the table above, calculate (by showing your work) the ask price of pounds in terms of euro? c) Using the table above, calculate (by showing your work) the bid price of euro in terms of pounds? d) Using the table above, calculate (by showing your work) the ask price of euro in terms of pounds? Discuss whether there is an arbitrage opportunity or not. If there is, briefly explain how you can make money. 2) American Terms European Terms Bank Quotations Bid Ask Bid Ask British pounds $1.9712 $1.9717 0.5072 0.5073 Euros $1.4738 $1.4742 0.6783 0.6785 a) Using the table above, calculate (by showing your work) the bid price of pounds in terms of euro? b) Using the table above, calculate (by showing your work) the ask price of pounds in terms of euro? c) Using the table above, calculate (by showing your work) the bid price of euro in terms of pounds? d) Using the table above, calculate (by showing your work) the ask price of euro in terms of pounds