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Suppose the following exchange rates are quoted: CHF1.5971/$ A$ 1.8215/$ A$1.1440/CHF Ignoring transaction costs, does an arbitrage opportunity exist? If so, what steps would you

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Suppose the following exchange rates are quoted: CHF1.5971/$ A$ 1.8215/$ A$1.1440/CHF Ignoring transaction costs, does an arbitrage opportunity exist? If so, what steps would you take to make an arbitrage profit, and how much would you profit if you have $1M available

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