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Assume the following information regarding U.S. and European annual interest rates : Currency U.S. Dollar ($) Lending Rate 6.73% Borrowing Rate 7.20% 7.28% Euro ()

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Assume the following information regarding U.S. and European annual interest rates : Currency U.S. Dollar ($) Lending Rate 6.73% Borrowing Rate 7.20% 7.28% Euro () 6.80% Trensor Bank can borrow 20 million. The current spot rate of the euro is $ 1.13. Furthermore, Trensor Bank expects the spot rate of the euro to be $1.10 in 90 days. What is Trensor Bank's dollar profit from speculating if the spot rate of the euro is indeed $1.10 in 90 days

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