Suppose that Cloudastries Bank is a U$.$S$.-$based financial intermediary that serves the foreign exchange market. Assume that this bank is willing to

both purchase and sell currency for the same rate. In other words, assume there is no bid$/$ask spread.

Suppose Cloudastries has made the following direct quotations:

Additionally, Cloudastries has quoted a cross exchange rate of $1$ euro $=4\mathrm{.}05$ pesos.

After exchanging euros for pesos, the last step in triangular arbitrage is to exchange those pesos for dollars.

If you exchange your $22,500\mathrm{.}02$ for dollars from Cloudastries, you would receive

$.$ This represents a profit of

TOTAL SCORE: $\frac{3}{4}$

$($to complete this step and unlock the next step$)$