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Suppose one observed the following direct spot quotations in New York and London, respectively: $1.250060/ and .800050/$. Arbitrage profits per $1 million equal (Please show/

Suppose one observed the following direct spot quotations in New York and London, respectively: $1.250060/ and .800050/$. Arbitrage profits per $1 million equal (Please show/ explain how to get this answer in the simplest way possible)

$637

$1,268

$4,492

Ans: b (0)

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