An Italian currency dealer has good credit and can borrow 800,000 for one year. The one-year interest rate in the U.S. is is = 2% and in the euro zone the one-year interest rate is i = 6%. The spot exchange rate is $1.25 = 1.00 and the one-year forward exchange rate is $1.20 1.00. How much will be the euro-denominated arbitrage profit? 0 2,000 35,360 48,960