The following exchange rates are available to you. (You can buy or sell at the stated rates). Assume you have an initial wealth of $1,000,000. Can you make a profit via triangular arbitrage? If so, show the steps and calculate the amount of profit in nominal terms and as a percentage of initial wealth.

Deutsche Bank, Germany Euro / US Dollar 0.90 Euro / 1 $

Bank of New York British Pound / US Dollar 0.78 Pound / 1 $

Barclays Bank, England Euro / one British Pound 1.14 Euro / 1 British Pound