Please answer part A and B. Thanks

Each part of a question is worth one point (30 points total) 1. Assume the following exchange rates for the New Zealand dollar in terms of the US dollar North Bank: Bid price = $.401 Ask price - $.404 South Bank: Bid price $.398 Ask price -$.400 Explain the steps involved in locational arbitrage using $1 million. a. b. What would be your profit