Please assist with question 3.3 and 3.4

QUESTION 3 (15 marks) Assume the following exchange rates: Rand/Dollar $1 = R22.50 Pound/Rand R1=60.043 Dollar/Pound $1= E0.821 It is estimated that the Rand/Dollar exchange rate will be $1=R21.92 next year. REQUIRED: 3.1 Calculate the cross rate in terms of the pound per dollar. (4) 3.2 Is there arbitrage opportunity in this situation? Provide a reason for your answer (2) 3.3 Assuming the cross rate is $1= $1.034, explain how to take advantage of the mispricing and the potential profit per R1 000. (5) 3.4 Assuming the anticipate inflation rates for South Africa and the United States is (4) constant over the next year, calculate the difference in annual inflation rates of these countries over the next year