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Assume the bid rate of a New Zealand dollar is $.33 while the ask rate is...

Assume the bid rate of a New Zealand dollar is $.33 while the ask rate is $.335 at Bank X. Assume the bid rate of the New Zealand dollar is $.32 while the ask rate is $.325 at Bank Y. Given this information, what would be your gain if you use $1,000,000 and execute locational arbitrage?

$15,385.

$15,625.

$22,136.

$31,250.
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