Exchange rate arbitrage) You own $1 1 000 The dollar rate in Tokyo is 216 0000 WS The yen rate in New Yorkis gr en in the following tableAre arbitrage profits possible? Set up an arbitrage scheme with your capital. What is the gain (loss) in dollars? Hint: Compare the Tokyo's direct quote with the New York's indirect quote. "Assuming no transaction costs, the rate between Tokyo and New York are out of line. Therefore, arbitrage profits are possible." Is the above statement true or false? | 1 (Select from the drop-down menu ) options: True / False V. (Select from the drop-down menu.) Options: New York/ Tokyo The yen is cheaper in The amount of yen you could buy in Tokyo for $11,000 is yen. (Round to the nearest whole number.) If you sell the yen in What is the gain (loss) in dollars? Enter a positive number for a gain and a negative for a loss S at the prevaling rate, the amount of dollar you would obtain is $ (Round to the nearest cent) options: New York/ Tokyo (Round to the nearest cent.)