Assume the following quoted prices: Bank A: Value of EUR in USD at USD 1.09 = EUR 1;Bank B: Value of AUD in USD at USD 0.753 = AUD 1;Bank C: Value of EUR in AUD at AUD 1.456 = EUR 1.Given this information, if you had USD 1 million to use, what is the riskless profit you can make based on triangular arbitrage?

(I need working working out please!)

Answers:

A.$5,485

B.$5,531

C.$5,808

D.$5,842