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National Bank quotes the following for the British pound and the New Zealand dollar: Quoted Bid Price Quoted Ask Price Value of a British pound

National Bank quotes the following for the British pound and the New Zealand dollar:

Quoted Bid Price

Quoted Ask Price

Value of a British pound () in $

$1.61

$1.62

Value of a New Zealand dollar (NZ$) in $

$.55

$.56

Value of a British pound in
New Zealand dollars

NZ$2.95

NZ$2.96

Assume you have $10,000 to conduct triangular arbitrage. What is your profit from implementing this strategy?

a.

$77.64.

b.

$15.43.

c.

$111.80.

d.

$197.53.

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