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 $20 million or 20 million Euros. The current spot rate of the euro is $1.13. Furthermore, Trensor Bank expects the spot rate of the euro to be $1.09 in 90 days. What is Trensor Bank's dollar profit from speculating if the spot rate of the euro is indeed $1.09 in 90 days?