Question: need this answer 4. Triangular Arbitrage Assume the following information: QUOTED PRICE Value of Canadian dollar in U.S. dollars $.90 Value of New Zealand dollar

need this answer

4. Triangular Arbitrage Assume the following information: QUOTED PRICE Value of Canadian dollar in U.S. dollars $.90 Value of New Zealand dollar in U.S. $.30 dollars Value of Canadian dollar in New Zealand NZ$3.02 dollars Given this information, is triangular arbitrage possible? If so, explain the steps that would reflect triangular arbitrage, and compute the profit from this strategy if you had $1 million to use. What market forces would occur to eliminate any further possibilities of triangular arbitrage

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