1. Suppose the annualized interest rate on 180-day dollar deposits is 6 7/16 - 5/16%, meaning that dollars can be borrowed at 6 7/16% (the ask rate) and lent at 6 5/16% (the bid rate). At the same time, the annualized interest rate on 180-day Thai baht (B) deposits is 9 3/8 - 1/8%. Spot and 180-day forward quotes on Thai Baht are B 31.5107 - 46/$ and B 32. 1027-97/$ respectively. Is there an arbitrage opportunity? Set up an arbitrage trading strategy with capital B 10,000,000 and compute the profit.