Calculated by IRP first, f should be equal to (1.04) *1.45/(1.03), and the answer is 1.464.

And this F is less than F360= 1.48 given in the title, so it can be arbitrage.

Then, I borrowed 14500 dollars from the United States (one year later 15080 dollars). Then change 14500 dollars into 10000 euros according to the current spot exchange rate. In banks in Europe. A year later, I got 10300 euros. Then it is converted into US dollars according to the exchange rate of F = 1.48, which is equal to 15244 US dollars. I paid back 15080 USD to the bank and earned 164 USD.

I don't know if it's right for me to do this.