Which of the following most accurately describes locational arbitrage?

a)Purchasing a currency at a location where the price is high and immediately selling it at another location where it the price is lower

b)Purchasing a currency at a location where it is cheaply priced and immediately selling it at another location where it is priced at the same rate as the original location

c)Purchasing a currency at a location where it is cheaply priced and immediately selling it at another location where the price is higher

d)Purchasing a currency at a location where it is cheaply priced and then selling it back to the same location at the same rate