You are a U.S.-based treasurer with $1,000,000 to invest. The dollar-euro exchange rate is quoted as $1.20 = 1.00 and the dollar-pound exchange rate is quoted at $1.80 = 1.00. If a bank quotes you a cross rate of 1.00 = 1.50, how much money can an astute trader make? $166,667 $277,778 $111,111 $0