The following exchange rates are available to you. You can buy or sell at the stated rates. i-Cow Bank Sfr 1.0182/$ i-Pig Bank Rmb 6.7542/$ i-Cat Bank Rmb 6.6050/Sfr a. Given the quotations from i-Cow Bank and i-Pig Bank, what's the cross rate (Rmb/Sfr)? Is there an intermarket arbitrage opportunity? b. Assume you can borrow $500,000. Please develop an intermarket arbitrage strategy and show that you can generate arbitrage profit. c. What's the key assumption for an intermarket arbitrage to work? The following exchange rates are available to you. You can buy or sell at the stated rates. i-Cow Bank Sfr 1.0182/$ i-Pig Bank Rmb 6.7542/$ i-Cat Bank Rmb 6.6050/Sfr a. Given the quotations from i-Cow Bank and i-Pig Bank, what's the cross rate (Rmb/Sfr)? Is there an intermarket arbitrage opportunity? b. Assume you can borrow $500,000. Please develop an intermarket arbitrage strategy and show that you can generate arbitrage profit. c. What's the key assumption for an intermarket arbitrage to work