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Question 3. (2 points) Assuming no transaction costs, suppose 1 = US$1.3551 in New York, US$1 =0.8813 in Germany, and 1=0.8343 in London. How could

Question 3. (2 points) Assuming no transaction costs, suppose 1 = US\$1.3551 in New York, US\$1 =0.8813 in Germany, and 1=0.8343 in London. How could you take profitable advantage of these rates? What are the arbitrage profits per $1 million

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