The following exchange rates are available to you. (You can buy or sell at the stated rates.)

Assumptions

Values

Beginning funds in Swiss francs (SF)

10,000,000.00

Mt. Fuji Bank (yen/$)

120.00

Mt. Rushmore Bank (SF/$)

1.6000

Matterhorn Bank (yen/SF)

80.00

Identify the arbitrage opportunity; lay out the 3-step strategy for arbitrage if arbitrager starts with SF 10, 000,000 .