The table below shows the bid-ask quotations from three dealers. Dealer Quotations Bid Dealer A: $: $1.3500 Dealer B: $: $1.1700 Dealer C: : 1.1470 Required: Ask $1.3550 $1.1750 1.1480 Ignoring transaction costs, is there an arbitrage opportunity based on these quotations? If there is an arbitra opportunity, what steps would be taken to make an arbitrage profit, and how much would be the profit if $1,000,000 is available for this purpose?