Assume the following information for a particular bank:
|
Quoted |
Price |
| Value of Batavian drac (BTD) in US dollars |
USD |
0.9 |
| Value of Ulerican crown (ULC) in US dollars |
USD |
0.3 |
| Value of Batavian drac in Ulerican crown |
ULC |
3.02 |
Given this information, is triangular arbitrage possible? If so, explain the steps that would reflect triangular arbitrage, and calculate the profit from this strategy if you had $1,000,000 to use.