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> Question 14 5 pts Joe Denver specializes in cross-rate arbitrage. He notices the following quotes: 1. Crdit Lyonnais: Yen/US dollar = JPY 107.0000 /USD

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> Question 14 5 pts Joe Denver specializes in cross-rate arbitrage. He notices the following quotes: 1. Crdit Lyonnais: Yen/US dollar = JPY 107.0000 /USD 2. Barclays: US dollar/euro = USD 1.1100/EUR 3. Crdit Agricole: Yen / EUR = JPY 120.0000 / EUR Ignoring transaction costs, compute how much Joe Denver can make a triangular arbitrage profit by trading at these prices. Assume that he has $1 million available to conduct the arbitrage

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