Question

Please show how answer is derived. You have $1,000,000 to conduct triangular arbitrage Use the information...

Please show how answer is derived.

You have $1,000,000 to conduct triangular arbitrage Use the information below to

(1) Calculate your profit from implementing this strategy?

(2) Should you conduct triangular arbitrage based on your calculations?
Bid Price Ask Price
Value of a Canadian dollar in $ $0.770 $0.790
Value of Mexican peso in $ $0.050 $0.066
Value of Canadian dollar in Mexican pesos 15.00 15.10
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