Suppose that there are 80 million American Depository Receipts, ADRs, listed on the New York Stock Exchange, NYSE, representing 20 million common shares of a UK co. - London Electronics Ltd. Right now price per share of common stock at London Stock Exchange, LSE, is 60, and right now the exchange rate between US$ and is: US$1.0-0.6. Assume zero brokerage commissions. (i) Find the equilibrium price of an ADR on the NYSE. (ii) Suppose the price of an ADR on the NYSE is not what you found in (i), but it is US$20. For the transaction size of US$120 million or 72 million, show arbitrage profit.