Doug Bernard specializes in cross-rate arbitrage. He notices the following quotes: Swiss franc/dollar = SFr1.6027/\$ Australian dollar/U.S. dollar = A $1.8278/$ Australian dollar / Swiss franc = A\$1.1482/SFr Required: gnoring transaction costs, a. Does Doug Bernard have an arbitrage opportunity based on these quotes? Does Doug Bernard have an arbitrage opportunity based on these quotes? b. How much would he profit if he has $1,000,000 available for this purpose? Note: Do not round intermediate calculations. Round your answer to 2 decimal places