16. Assume the following information regarding U.S. and European annualized interest rates: Currency. Lending Rate Borrowing Rate U.S. Dollar ($) 6.73% 7.2% Euro () - 6.80% 7.28% Trensor Bank can borrow either $10 million or 10 million. The current spot rate of the euro is $1.13. Furthermore, Trensor Bank expects the spot rate of the euro to be $1.10 in 90 days. What is Trensor Bank's dollar profit from speculating if the spot rate of the euro is indeed $1.10 in 90 days? Assume 360 days a year in your calculations. $294,100.00 $289,922.50 $292,122.50 $490,122.50 $291,900.00