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Solve the question given below
Suppose the Japanese yen exchange rate is ¥85 = $1, and the British pound exchange rate is £1 = $1.53.
Suppose the cross-rate is ¥133 = £1. What is the arbitrage profit per dollar used?
The response must be typed, single spaced, must be in times new roman font (size 12) and must follow the APA format.
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