James Clark is a currency trader with Wachovia. He notices the following quotes: Required: a. Is the interest rate parity holding? You may ignore transaction costs. b. What steps should be taken to make arbitrage profit? Assuming that James Clark is authorized to work with $1,000,000. Compute the arbitrage profit. Complete this question by entering your answers in the tabs below. Is the interest rate parity holding? You may ignore transaction costs. James Clark is a currency trader with Wachovia. He notices the following quotes: Required: a. Is the interest rate parity holding? You may ignore transaction costs. b. What steps should be taken to make arbitrage profit? Assuming that James Clark is authorized to work with $1,000,000, Compute the arbitrage profit. Complete this question by entering your answers in the tabs below. What steps should be taken to make arbitrage profit? Assuming that James Clark is authorized to work with $1,000,000. Compute the arbitrage profit. Note: Round off the final answer to nearest whole dollar