Assume that you can buy 250 Canadian dollars with 100 British pounds.Which one of the following statements is correct given the following exchange rates? Assume that you start out with British pounds. 
A) You can earn a profit of C$2.47 by using triangle arbitrage.
B) You can earn a profit of £1.17 by using triangle arbitrage.
C) You can earn a profit of C$1.17 by using triangle arbitrage.
D) You can earn a profit of £2.47 by using triangle arbitrage.
E) You cannot earn a profit given the current exchange rates.
Correct Answer:
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