As a percentage of an arbitrary starting amount, about how large would transaction costs have to be
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As a percentage of an arbitrary starting amount, about how large would transaction costs have to be to make triangular arbitrage between the exchange rates SSFr∕$ = SFr1.7223∕$, S$∕¥ = $0.009711∕¥, and S¥∕SFr = ¥61.740∕SFr unprofitable?
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