You are working for Medical Equipment Exports Group. Your corporation is going to pay an annual dividend of $5 per share and an extra dividend of $1.5 per share in 4 weeks. The companys stock is currently listed and actively traded on the ASX.

Required:

1. Medical Equipment Exports Group has an extra cash of A$645,000. The AUD/USD exchange rate in New York is 0.74659. The USD/AUD rate in Sydney is 1.38127. Is there any arbitrage profit possible? Set up an arbitrage scheme with the extra cash. What is the potential gain in the AUD dollar, disregarding bid-ask spread?