Assume the following information:

You borrowed $$1,000,000$ from the US Bank and want to invest that money in the UK market in $90$ days.

Current spot rate of pound $=$$$\frac{1\mathrm{.}30}{b}p$

$90$ day forward rate for pound in the Forward market $=$$$\frac{1\mathrm{.}28}{b}p$

$3$ month deposit rate in US $=3\%$ annual

$3.$ month deposit rate in UK $=4\%$ annual

If you use covered interest arbitrage for a $90$ day investment, what will be the amount of Net US $ profit which is riskless you will have after $90$ days?

around $$95,700$

around $$97,400$

around $$93,700$

around $$91,240$