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Assume the following information: USD/AUD, bid/ask:69 / 0.71 USD/MXP, bid/ask:071 / 0.076 MXP/AUD, bid/ask:07 / 8.

Assume the following information:

USD/AUD, bid/ask: 0.69 / 0.71

USD/MXP, bid/ask: 0.071 / 0.076

MXP/AUD, bid/ask: 8.07 / 8.37

Assume you have 1 million USD to conduct one cycle of triangular arbitrage. What will be your profit from implementing this strategy? Remember to pay careful attention whether you're trading at the bid or the ask with the bank.

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