How Can One Profit Through Arbitrage If the Dollar Per

Multiple Choice

How can one profit through arbitrage if the dollar per euro exchange rate in London is $2 per pound while in New York is $1.95 per pound?

A) Buy dollars in New York and sell them in London
B) Buy pounds in London and sell them in New York
C) Buy pounds in New York and sell them in London
D) Buy dollars in London and sell pounds in New York