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Suppose you observe the following exchange rates: 1 = $.85; 1 = $1.60; and 2.00 = 1.00. Starting with $1,000,000, what steps would you

Suppose you observe the following exchange rates: 1 = $.85; 1 = $1.60; and 2.00 = 1.00. Starting with $1,000,000, what steps would you take to make a triangular arbitrage profit?

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