The spot exchange rate for Malaysian ringgit against the US dollar has been quoted as shown in Table Q4 (c). Table Q4 (c): Selling Quotes for Ringgit in New York Contract $/ Foreign Currency Country currency Malaysia - Ringgit (MYR) Spot 0.2400 You own USD 17,000. The dollar rate in Kuala Lumpur is RM4.20. The ringgit rate in New York is given in Table Q4(c). Based on the information above: (i) Propose an arbitrage scheme with your capital. (6 marks) (ii) Compute the gain (or loss) in dollars based on your calculation in Q4(c)(i). (2 marks) (iii) Discuss the role of arbitrage in the foreign exchange markets. (4 marks)