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

Currency	Lending Rate	Borrowing Rate
U.S. Dollar ($)	6.73%	7.20%
Euro ()	6.80%	7.28%

Trensor Bank can borrow either $40 million or 40 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?

Profit

1192194.93

Profit

1121194

Profit

1162194.93

Profit

871646.1973