You are a currency trader who seeks out currency arbitrage opportunities. You observe the following quotes for the spot and 183 day forward exchange rates between the Japanese yen and the Thai baht: JPY/THB Spot Rate Forward Rate 3.6740 3.6880 Japanese and Thai 6-month deposit rates are quoted as follows (assume 183 days): Japan: 20%, Thailand: 1.20% a) Using these quotes, describe how you would construct a profitable arbitrage? Show your calculations. b) What is the profit margin of this arbitrage (i.e., what is the percentage profit earned for every Thai baht you borrow or lend)?