Welcome to your interview.
The question is on your right: Profitability With Transaction Costs. Take a moment with it first.
Talk your thinking through with me if you like - when you're confident, submit your answer and I'll grade it like a real screen (7/10 or better passes). Discussion and graded submissions share your five interviewer interactions, so spend them well.
If a trading desk asks you to evaluate the profitability of a new asset class with high transaction costs, how do you set up the analysis?