Suppose that the pound is pegged to gold at 20 per ounce and the dollar is pegged to gold at $35 per ounce. This implies an exchange rate of $1.75 per pound. If the current market exchange rate is $1.90 per pound and assume that you have $700 available for investment, how would you take advantage of this situation? You need to write down the steps of taking advantage of this situation and calculate your possible gain of U.S. dollar.