Assume that the spot exchange rate is $1.2850/ and the six-month forward exchange rate is $1.4500/. The six-month interest rate is 7.60% per annum (per year) in the U.S. and 3.75% per annum in the U.K. Assume that you can borrow up to $2,000,000. How much money can you make through arbitrage?

(note: for a six-months period the interest is the per annum interest divided by 2).