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Assume the following information regarding U.S. and European annualized interest rates: Multiple Ch Currency Lending Rate Borrowing Rate U.S. Dollar ($) 6.7396 7.204 Euro ()

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Assume the following information regarding U.S. and European annualized interest rates: Multiple Ch Currency Lending Rate Borrowing Rate U.S. Dollar ($) 6.7396 7.204 Euro () 6.50% 7.25% Trenser Bank can borrow either $20 million or 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 Trenser Bank's dollar profit from speculating if the spot rate of the euro is indeed $1.10 in 90 days

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