Having trouble answering this question. 4.5 a and b

4.5 The Mexican peso is quoted in direct terms at $ $ 28. 74 / MIX'N bid and * 28. 77 / MX N ask " in Tokyo . The yen is quoted in direct terms in Mexico City at " MIXNO . 03 41 60 0 # bid and MIXNO . 03420 * * ask . " 2 . Calculate the bid- ask spread as a percentage of the bid price from the Japanese and from the Mexican perspective . b. Is there an opportunity for profitable arbitrage ? If so , describe the necessary transactions using a $ 1 million starting amount . Take your profit in yen