Swissie Triangular Arbitrage. The following exchange rates are available to you. (You can buy or sell at the stated rates.) Assume you have an initial

SF 12,400,000.Can you make a profit via triangular arbitrage? If so, show the steps and calculate the amount of profit in Swiss francs (Swissies).

Mt. Fuji Bank	93.66/$
Mt. Rushmore Bank	SF 1.02/$
Mt. Blanc Bank	91.26/SF

Calculate the first arbitrage opportunity attempt below:(Round to the nearest cent.)

Attempt Number 1: Start with SF to $
Step 1 : SF to $	$

Step 2: $ to yen

Step 3: yen to SF

SF

Profit or Loss

SF

The second arbitrage opportunity attempt is calculated below:(Round to two decimal places.)

Attempt Number 2: Start with SF to yen
Step 1 : SF to yen

Step 2: yen to $

$

Step 3: $ to SF

SF

Profit or Loss

SF