Use the Following Information to Answer Questions 24-25

question 8

Multiple Choice

Use the following information to answer questions 24-25.
Assume that the following exchange rates exist for the U.S. dollar, Japanese Yen and the British Pound.

-If you are an arbitrageur that starts with $1,000 in New York,you will end up with the arbitrage profit of:

• A) $0
• B) $142.86
• C) $446.43
• D) $875.00

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Definitions:

Limestone

A sedimentary rock composed mainly of calcium carbonate, often formed from the skeletal remains of marine organisms.

Calcite

A common crystalline form of natural calcium carbonate, CaCO3, that is the primary constituent of limestone and marble.

Precipitation

Any kind of water, be it liquid or frozen, that drops from the sky to the ground, covering all forms such as rain, snow, sleet, and hail.

Sinkhole

A depression or hole in the ground caused by the collapse of a surface layer, often due to the dissolution of underlying limestone.