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Question 3. (5 points) You go to a bank and are given these quotes: You can buy a euro for 14 Mexican pesos. The bank

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Question 3. (5 points) You go to a bank and are given these quotes: You can buy a euro for 14 Mexican pesos. The bank will pay you 13 pesos for a euro. You can buy a U.S. dollar for .9 euros. The bank will pay you .8 euros for a U.S. dollar. You can buy a U.S. dollar for 10 pesos. The bank will pay you 9 pesos for a U.S. dollar. You have $1,000,000. Can you use triangular arbitrage to generate a profit? If so, explain the order of the transactions that you would execute and the profit that you would earn. Show all the necessary calculations

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