Assume the following information regarding U.S. and Canadian annualized interest rates:

Currency lending rate borrowing rate

us dollar 5.89% 6.35%

candian dollar 5.60% 6.00%

Piggy Bank can borrow either $20 million or C$30 million. Furthermore, Piggy Bank expects the spot rate of the Canadian dollar to be $0.82 in 60 days (the current spot rate is $0.80). What is Malone Bank's profit or loss from speculation if the spot rate 60 days from now is indeed $0.78?