1:57:29 4 7 of 38 Mark Suppose one-year German Treasury bill pays 4.33% and one-year Canadian Treasury bill pays 2.94%. The current spot exchange rate is 1 Euro (EUR) = 1.3528 Canadian dollar (CAD) and the one- year forward exchange rate is 1 EUR = 1.322 CAD. How much arbitrage profit can an investor earn on an investment value of CAD 4 million? Answer: CAD (DO NOT ROUND YOUR CALCULATIONS UNTIL YOU REACH THE FINAL ANSWER. ENTER YOUR RESPONSE ROUNDED TO TWO DECIMAL PLACES, AND NO SEPARATOR FOR THOUSANDS.)