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You specialize in cross-rate arbitrage and notice the following quotes: $/GBP1.1835MXN/$18.8679MN/GBP21.9235 - Do you have an arbitrage opportunity? Prove it (3 points) - If yes,

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You specialize in cross-rate arbitrage and notice the following quotes: $/GBP1.1835MXN/$18.8679MN/GBP21.9235 - Do you have an arbitrage opportunity? Prove it (3 points) - If yes, what steps should you take to make an arbitrage profit? What is your profit if you have $1,500,000 available for this purpose? ( 8 points) - What MXN/GBPrate will eliminate the arbitrage opportunity? (4 points)

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