Question: Is this answer correct. please share workings of this problem Check My Work Assume the bid rate of a Swiss franc is $.57 while the

Is this answer correct. please share workings of this problem

Check My Work Assume the bid rate of a Swiss franc is $.57 while the ask rate is $.579 at Bank X. Assume the bid rate of the Swiss franc is 8.560 while the ask rate is 8.566 at Bank Y. Given this much will you end up with over and above the $1,000,000 you started with? information, what would be your gain if you use $1,000,000 and execute locational arbitrage? That is, how ma Oa. $10,114 b. $12,238 Oc. $8,556 d. $7,067

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