The following information shows currency quotes from 3 difference banks. 1) Bank A: US$1.5400/pound 2) Bank B: EURO 1.6000/pound 3) Bank C: US$0.9700/EURO a) Can a trader make a profit on these quotes? Why? b) Assume that the trader has $1,000,000 or the equivalent in another currency available for the transaction. What profit can the trader make? (Show steps of your transactions)