Your favorite bank trader calls you and tells you that she can execute the trades at the following quoted bid-ask spot prices:

Bank A: Korean won 100 - 110 per Singapore $,Bank B: Hong Kong $3.50 - 3.60 per Singapore $ andBank C: Korean won 30 - 32 per Hong Kong $,If you have access to a line of credit of Hong Kong $100,000 mil, based on cross-exchange rates and triangular arbitrage, what is the arbitrage gain or loss if you go fromHong Kong $ to Korean won to Singapore $and back to Hong Kong,based on these quotes (rounded)?