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Suppose you observe the following spot exchange rates: $1 = 1.20, 1 = $1.60, and 1 = 0.50. Starting with $1,000,000, how can you make

Suppose you observe the following spot exchange rates: $1 = 1.20, 1 = $1.60, and 1 = 0.50. Starting with $1,000,000, how can you make money in $ and what is the $ profit?

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