Part A Consider the following bilateral spot exchange rates involving the Australian dollar (AUD), Canadian dollar (CAD), Euro (EUR), and United States dollar (USD): AUD per USD (AUD/USD) 1.2894-1.2981 CAD per USD (CAD/USD) 1.1151-1.1207 EUR per USD (EUR/USD) 0.7443-0.7592 CAD per AUD (CAD AUD) 0.9438-0.9545 EUR per AUD (EUR/AUD) 0.6418-0.6460 EUR per CAD (EUR/CAD) 0.6755-0.6810 Start with AUD 10,000. Can you identify any positive arbitrage opportunities with all these quotes? Assume that all the interest rates are zero. Explain and show your working clearly and completely. Give your final answers in AUD. Part A Consider the following bilateral spot exchange rates involving the Australian dollar (AUD), Canadian dollar (CAD), Euro (EUR), and United States dollar (USD): AUD per USD (AUD/USD) 1.2894-1.2981 CAD per USD (CAD/USD) 1.1151-1.1207 EUR per USD (EUR/USD) 0.7443-0.7592 CAD per AUD (CAD AUD) 0.9438-0.9545 EUR per AUD (EUR/AUD) 0.6418-0.6460 EUR per CAD (EUR/CAD) 0.6755-0.6810 Start with AUD 10,000. Can you identify any positive arbitrage opportunities with all these quotes? Assume that all the interest rates are zero. Explain and show your working clearly and completely. Give your final answers in AUD