Problem 10 Intro You have $40,000 and observe the following exchange rates: Bid Ask $1.19 Exchange rate Value of euro in U.S. dollars Value of Swiss franc in U.S. dollars Value of euro in Swiss francs $1.2 $1 $0.99 CHF 1.15 CHF 1.16 Part 1 Attempt 1/5 for 10 pts. Is there an arbitrage opportunity? If so, what should you do to exploit it? Yes: buy euros with Swiss francs No Yes: buy Swiss francs with euros Submit Part 2 What is your profit from exploiting the opportunity once (in $)? Attempt 1/6 for 10 pts