Question 1 (15 Points) Alibaba recently did a Global Depository Share (GDR) IPO in the Hong Kong market. The Hong Kong shares closed at HKD 198.40. The shares trade in the US market at USD 200. The Hong Kong Dollar trades at 7.83 HKD/USD. 1) (8 points) With that information, calculate how many Alibaba HK Global Depository Shares are required to purchase one Alibaba American Depository Share (Hint: don't give me a fractional number of shares) 2) (7 points) Is there an arbitrage opportunity (long/short one vs. the other? If so, how can I do it