You have $43,000 and observe the following exchange rates: 1. Is there an arbitrage opportunity? If so, what should you do to exploit it? - Yes: buy Swiss francs with euros - No - Yes: buy euros with Swiss francs 2. What is your profit from exploiting the opportunity once (in $)?Exchange rateBidAskValue of euro in U.S. dollars$1.15$1.16Value of Swiss franc in U.S. dollars$1$1.01Value of euro in Swiss francsCHF1.1CHF1.11.