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Given the following exchange rate in London and New York:   EUR/USD = 1

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Given the following exchange rate in London and New York:

EUR/USD = 1.2000 (London)

EUR/CAD = 1.5000 (London)

USD/CAD = 1.2539 (New York)

Calculate if there is any arbitrage opportunities.

Calculate the profit/ (loss) from the above triangular arbitrage assuming your investment start with USD1,000,000.00.