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Suppose you observe the following quotes:
ACR: £=¥230
£=$1.1
¥=$.005
Find the triangular arbitrage profit (in dollars) for someone that has access to 1 million dollars.
265,000
0
45,454.55
127,000
Based on the information in the previous question, the yen will appreciate against the dollar to eliminate the arbitrage opportunity.
True
False
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