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Suppose 1=$2.4110 in New York, $1=SF3.997 in Paris, and SF1=0.1088 in London. Is there any arbitrage opportunity given the exchange rate information? If you begin

Suppose 1=$2.4110 in New York, $1=SF3.997 in Paris, and SF1=0.1088 in London. Is there any arbitrage opportunity given the exchange rate information? If you begin by holding 1, how could you profit from these exchange rates? How much would you gain through arbitrage? Show process to receive partial credits.

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