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Suppose that the pound is pegged to gold at 20 per ounce and the dollar is pegged to gold at $35 per ounce. If the current market exchange rate is $1.80 per pound, how would you take advantage of this situation? Assume that you have $350 available for investment and consider the following two strategies. (I) Start with $350. Buy gold with dollars at $35 per ounce. Convert the gold to at 20 per ounce. Exchange the for dollars at the current rate of $1.80 per pound to get $. (II) Start with $350. Exchange the dollars for pounds at the current rate of $1.80 per pound. Buy gold with pounds at 20 per ounce. Convert the gold to dollars at $35 per ounce Only (II) Only (l) None of the other answers Both (I) and (II)