Hewitt Bank Quotes a Value for the Japanese Yen (¥)

Multiple Choice

Hewitt Bank quotes a value for the Japanese yen (¥) of $0.007, and a value for the Canadian Dollar (C$) of $0.821. The cross exchange rate quoted by the bank for the Canadian dollar is ¥118.00. You have $5,000 to conduct triangular arbitrage. How much will you end up with if you conduct triangular arbitrage?

A) $6,053.27
B) $5,030.45
C) $6,090.13
D) Triangular arbitrage is not possible in this case.