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You have the following information: Quoted Bid Quoted Ask British pound in US dollars $1.60 $1.61 Malaysian ringgit (MYR) in US dollars $0.200 $0.201 British

You have the following information:

Quoted Bid Quoted Ask

British pound in US dollars$1.60 $1.61

Malaysian ringgit (MYR) in US dollars $0.200 $0.201

British pound in Malaysian ringgit (MYR) MYR 8.10 MYR 8.20

Determine whether arbitrage is possible. If yes, how would you carry out the arbitrage?Assume that you have $10,000 to invest. Show all the steps and determine the arbitrageprofit.

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