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A corporate treasury working out of Vienna with operations in New York simultaneously calls Citibank in New York City and Barclays in London. The two banks give the following quotes at the same time on the euro:
Citibank NYC Barclays London$1.1551-61/€ $1.158 - 1.159/€ Using $1 million or its euro equivalent, show how the corporate treasury could make geographic arbitrage profit with the two different exchange rate quotes.
Answer as a currency with two decimal places.
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