QUESTION 12 2.5 p Assume the bid rate of a a British pound is $1.150 while the ask rate is $1.558 at Commerce Bank. Assume the bid rate of the British pound is $1.120 while the ask rate is $1.130 at PC National Bank. Given this information, what would be your gain if you use $1,800,000 and execute locational arbitrage? That is, how much will you end up with over and above the $1,800,000 you started with? $29,673 $31,858 None of the answers listed is correct. $35,893 $30,950