Locational Arbitrage. Bank A quotes a bid rate of $$0\mathrm{.}300$ and an ask rate of $$0\mathrm{.}305$ for the Malaysian ringgit $($MYR$).$ Bank B quotes a bid rate of $$0\mathrm{.}306$ and an ask rate of $$0\mathrm{.}310$ for the ringgit.

a$)$ Does a locational arbitrage opportunity exist? If yes, describe it and how you would take advantage of it$.$

b$)$ Given this information, what would be your gain if you use $$500,000$ and execute locational arbitrage? That is$,$ how much will you end up with over and above the $$500,000$ you started with?