1. Stefan Boerig of Hoffman Bank now believes that the Swiss franc will appreciate against the British pound in the coming 3-month period. He has 250,000 to invest. The current spot rate is 0.7829/SF, the 3-month forward rate is 0.7640/SF, and he expects the spot rates to reach 0.7995/SF in three months. a. Calculate Stefan's expected profit, assuming a pure spot market speculation strategy. b. Calculate Stefan's expected profit, assuming he buys and sells Swiss francs three months forward