Peter discovered an arbitrage opportunity based on the following exchange rates:[LINE]$1US = EUR 1.1257[LINE]$1US = £.6928[LINE]1£ = EUR 1.65[LINE]If you start with $1, how much of a profit can you
Earn in U.S. dollars by exchanging currencies given these rates?
A) $.013
B) $.015
C) $.019
D) $.021
E) $.023
Correct Answer:
Verified
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