Law of one price - Ipod index: The iPod (nano 2 gigabytes) costs 608 Brazilian reals (BRL) in Brazil and $149.00 in the US. The actual market exchange rate between the Brazilian real and the US dollar is 0.4 US$ per BRL (BRLUSD). Norr What is the dollar cost (in US$) of the iPod sold in Brazil? $243.20 b) Comparing the dollar cost of the iPod sold in Brazil to the dollar cost of the iPod sold in the US, i) determine whether a commodity arbitrage opportunity exists and, if so, identify the arbitrage opportunity. 1 ii) calculate the arbitrage profit of the iPod opportunity