(a) The ISO currency code for the Malaysian Ringgit is MYR, and the code for the Indonesian Rupiah is IDR. Suppose that a basket of goods costs MYR111.50 in Malaysia, and the same basket of goods costs IDR362,000.50 in Indonesia. (i) Compute the equilibrium or arbitrage-free MYR/IDR spot exchange rate. (ii) Suppose that the actual MYR/IDR spot exchange rate is 3,295.55. Does there exist an opportunity for a commodity arbitrage? If your answer is yes,' describe the commodity arbitrage process. Describe in which country the arbitrageur would buy one basket of goods and sell in which country at what price. Also, explain the amount of profit in MYR. Use a single basket of goods in your discussion. Assume that there is no restriction on movements of goods across the two countries and also assume no transportation or any other costs