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Given the following quotations and find out if there is any arbitrage opportunity. If yes, how to take advantage of the arbitrage opportunity? Suppose you

Given the following quotations and find out if there is any arbitrage opportunity. If yes, how to take advantage of the arbitrage opportunity? Suppose you start with $1million. Show your transactions and calculate the profit. What if you start with £1 million, €1 million? New York: $1.9422/£ Frankfort: $1.4925/€ London: €1.2998/£

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