Suppose currently there are three banks offering the following quotes on Can\$, USD and UK : Can $1.1/$,$1.25/, and 0.75/ Can $. Suppose you are a dollar-based arbitrager who has $1,000,000. a. The implied exchange rate between USD and using direct quote from US perspective is . (Please only enter the number with no unit and two decimal points.). b. Therefore, is (overvalued/undervalued) relative to USD. c. In order to take the arbitrage opportunity, I will choose choice strategy: (select A or B) below to carry out investment A. $ Can $$ B. $ Can $$ d. My total arbitrage profit will be $ . (Please leave 2 decimal points for the profit.)