answer to part c please

If the interest rate in the United Kingdom is 5 percent, the interest rate in the United States is 8 percent, the spot exchange rate is $15123/51, and interest rate parity holds, what must be the one-year forward exchange rate? (Do not round intermediate calculations. Round your answer to 4 decimal places. (e.g. 32.1616)) Oneyear forward exchange rate b. If the forvard rate is actually $1.5567/1, would you borrow in dollars or pounds to make an arbitrage profit? Dollars Pounds c. If you can borrow either $1 milion or fi milloni (borlow in currency identified in previous part) to capitalize on the arbitrage profit using the actuaf forward rate of \$1.5567i1, what is your arbitrage piofit at the end of the year expressed in Sdollars? (Do not round intermediate calculations. Round your answer to 4 decimal ploces. (e.g.32.1616))