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Assuming no transaction costs, suppose the following quotes are available [NY: $1.25961/£, Paris: $1.12952/€, Singapore: €1.21517/£]....

  1. Assuming no transaction costs, suppose the following quotes are available [NY: $1.25961/£, Paris: $1.12952/€, Singapore: €1.21517/£]. How could you take profitable advantage of these rates? Assume you have $1,000,000.
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