Marks Suppose one-year US Treasury bill pays 2.36% and one-year Canadian Treasury bill pays 0.79%. The current spot exchange rate is 1 US dollar (USD) = 1.2049 Canadian dollar (CAD) and the one-year forward exchange rate is 1 USD = 1.1655 CAD. How much arbitrage profit can an investor eam on an investment value of CAD 1 million? Answer: CAD DO NOT ROUND YOUR CALCULATIONS UNTIL YOU REACH THE FINAL ANSWER. ENTER YOUR RESPONSE ROUNDED TO TWO (2) DECIMAL PLACES AND NO SEPARATOR FOR THOUSANDS IS REQUIRED.) Marks United States can produce either 10 units of bread or 30 units of steel per labour hour, Canada can produce either 12 units of bread or 21 units of steel per labour hour. Suppose Canada follows its comparative advantage in deciding what to produce and trade with United States at a trade price of 2.28 units of steel for one unit of bread. For every 5500 units of the goods that Canada produces and trades with United States, what are Canada's gains from trade in terms of the other goods? Answer: units DO NOT ROUND YOUR CALCULATIONS UNTIL YOU REACH THE FINAL ANSWER. ENTER YOUR RESPONSE ROUNDED TO TWO (2) DECIMAL PLACES, AND NO SEPARATOR FOR THOUSANDS IS REQUIRED