Use the following cross currency rates to answer the subsequent four questions. You must identify an arbitrage trade and show the profit if you start with $1,000. (USD = U.S. dollar. SGD = Singapore dollar. CHF = Swiss franc)

1. The first step is to convert $1,000 into:

A. USD

B. SGD

C. CHF

2. The next step is to convert to:

A. USD

B. SGD

C. CHF

3. The final step is to convert to:

A. CHF

B. SGD

C. USD

4. What is your profit if you started with $1,000 and executed an effective arbitrage strategy?