Patrick Bank quotes the following for the British pound and…
Patrick Bank quotes the following for the British pound and the New Zealand dollar: Quoted Bid PriceQuoted Ask PriceValue of a British pound (£) in $$1.58$1.59Value of a New Zealand dollar (NZ$) in $$0.57$0.58Value of a British pound in New Zealand dollarsNZ$2.69NZ$2.70Assume you have $30,000 to conduct triangular arbitrage. What is your profit from implementing this strategy?