Assume the following quotes on the spot exchange rates : Value of Singapore dollar in U.S. $ $ 0.6098 / S $ Value of British pound in U.S. $ $ 1.8828 / Value of British pound in Singapore dollar 5\$3.0052/f ( a ) Calculate the appropriate cross rate of British pound in Singapore dollar . ( b ) Is the British pound overpriced or underpriced relative to Singapore dollar ? Why ? ( c ) is a triangular arbitrage possible ? If so , describe the detailed steps of the triangular arbitrage explain the rationale for each of the steps in the triangular arbitrage compute the total profit in the U.S. dollars from this strategy if you have to use \$1,000000