The following table lists currency rates:

	DC:FC1	DC:FC1	DC:FC2	DC:FC2
Maturity	Bid	Ask	Bid	Ask
Spot	5.1381	5.1689	1.4182	1.4243
30-day	5.1438	5.2741	1.4124	1.4275
90-day	5.1202	5.2101	1.4025	1.4212

1. Calculate the following cross rates of FC2:FC1 for spot, 30-day and 90-day.
2. If one-year interest rates of FC1=5.4952%-5.7212% and FC2=20.1212%-20.1423%, what are the arbitrage chances and associated profits using forward (30 days or 90 days) and spot contacts to embark on transactions? (Assuming 360 days in a year and do not have to consider trading strategies using both 30-day and 90-day forwards)