Triangular arbitrage (40 points) Standard Chartered bank is quoting an exchange rate of $1.6230/ (that is, 1 =$1.6230), Mizuho bank is quoting a rate of 116.25/$ (that is, $1 = 116.25), and HSBC is quoting a cross-rate of 182/ (that is, 1 = 182). Rewrite the quotes in standard way using currency ISO codes Standard charter bank: USD/GBP $1.6230/1 Mizuho bank: JPY/USD 116.25/$1 HSBC: JPY/GBP 182/1 1. What is the implied cross rate in terms of Yen per pound ? 2.To conduct triangular arbitrage, your main step would be trading these currencies to sell __________ to Mizuho and purchase __________ from Mizuho. 3. Please show detailed work, step by step, including the exchange rates used. How much would be your profit and return rate? You have 1,000,000to conduct triangular arbitrage based on the rates above.