A U.S. Bank has US$200 million worth of one-year loans earning an average rate of return of 5 percent. The bank also has one-year single-payment Canadian dollar loans of C$110 million earning 7 percent. The bank's funding source is $300 million in US$ one-year CDs, on which they are paying 4 percent. Initially the exchange rate is C$1.10 per US$1. The one-year forward rate is C$1.14 per US$1. Calculate the bank's net interest income.

Please show me step by step and provide each formula used.