(Foreign exchange arbitrage) You own $7,000. The dollar rate in Tokyo is 215.9372/$. The yen rate in New York is given in the following table: Selling Quotes for Foreign Currencies in New York (Click on the icon . in order to copy its contents into a spreadsheet.) Are arbitrage profits possible? Set up an arbitrage scheme with your capital. What is the gain in dollars? "Assuming no transaction costs, the rates in Tokyo and New York are out of line. Therefore, arbitrage profits are possible." The statement above is (Select from the drop-down menu.)