Suppose the spot exchange rates quoted by three banks located in three different countries are as follows:

Bank A (Australia): 0.5115/A$

Bank B (Japan): 88.04/A$

Bank C (U.K.): 155.05/

Assume a U.K. investor has an initial .1 million and the investor can buy or sell currencies from the banks at the above quoted rates.

Determine if the investor can make a profit via triangular arbitrage. Calculate any profit or loss in .. Show all calculation steps and both paths.