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You have $32,000 and observe the following exchange rates: Exchange rate Bid Ask Value of yen in U.S. dollars $0.0098 $0.0099 Value of Canadian dollar

  1. You have $32,000 and observe the following exchange rates:

    Exchange rate Bid Ask
    Value of yen in U.S. dollars $0.0098 $0.0099
    Value of Canadian dollar in U.S. dollars $0.72 $0.73
    Value of yen in Canadian dollars C$0.0142 C$0.0144

    1. What is your profit from exploiting the opportunity once (in $)?

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