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It is end of trading on May 31. The spot USDTRY exchange rate is 15.00 and USDTRY futures with October 31 settlement are priced at

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It is end of trading on May 31. The spot USDTRY exchange rate is 15.00 and USDTRY futures with October 31 settlement are priced at 17.30. The continuously compounded risk-free rate is observed as 1.40% per year for lending and 1.60% for borrowing in the U.S. and 18% for lending and 27% for borrowing in Turkey over a six-month maturity. Determine whether arbitrage is possible and, if it is, illustrate how

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