Great Pyramids.Inspired by his recent trip to the Great Pyramids, Citibank trader Ruminder Dhillon wonders if he can make an intermarket arbitrage profit using Libyan dinars (LYD) and Saudi riyals (SAR). He has USD 1,000,000 to work with so he gathers the following quotes. Is there an opportunity for an arbitrage profit?

Citibank quotes U.S. dollar per Libyan dinar	$1.9165=LYD 1.00
National Bank of Kuwait quotes Saudi riyal per Libyan dinar	SAR 1.9752=LYD 1.00
Barclays quotes U.S. dollar per Saudi riyal

Calculate the profit (loss) from the intermarket arbitrage profit through path #1 below:(Round to the nearest cent.)

Path #1: US$ to riyals to dinars to US$
Start with US$	$	1,000,000.00
Convert to riyals at Barclays quote	SAR

Convert riyals to dinars at NatBank of Kuwait quote

LYD

Convert dinars to US$ at Citibank quote

$

Arbitrage gain (loss)

$

Calculate the profit (loss) from the intermarket arbitrage profit through path #2 below:(Round to the nearest cent.)

Path #2: US$ to dinars to riyals to US$
Start with US$	$	1,000,000.00
Convert to dinars at Citibank quote	LYD

Convert dinars to riyals at NatBank of Kuwait quote

SAR

Convert riyals to US$ at Barclays quote

$

Arbitrage gain (loss)

$

Triangular arbitrage (path #1 or #2) yields a positive profit.(Select from the drop-down menu.)