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 13,000,000. 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 : 90.34 Euro/$

Mt. Rushmore Bank: SF 1.02/$

Mt. Blanc Bank: 91.97 Euro/SF

Calculate 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 ________

Profit or Loss____________ SF

Attempt ends in a (Profit or Loss)?

- - - - - - -- - - - - - -- - - - - - -- - - - - - -- - - - - - -- - - - - - -- - - - - - -- - - - - - -- - - - - - -- - - - - - -

Attempt number 2: Start with SF to Yen: (Round to two decimal places)

Step 1: SF to yen _________

Step 2: yen to $ ________

Step 3: $ to SF_________

Profit or Loss _________ SF

Attempt ends in a (Profit or loss)?