2) Maya Bank expects that the Mexican peso will appreciate against the dollar from its spot rate of $0.15 to $0.20 in 180 days. The following interbank lending and borrowing rates exist:

Lending Rate Borrowing Rate

U.S. dollar 8.1% 8.5%

Mexican peso 8.6% 8.8%

Assume that Maya Bank has a borrowing capacity of either $15 million or 75 million pesos in the interbank market, depending on which currency it wants to borrow. How could Maya Bank attempt to capitalize on its expectations without using deposited funds? Estimate the profits/Losses that could be generated from this strategy. (17.5 Points)