Assuming the exchange rate will remain the same as MXN20/$ in one year from now, a trader wants to profit on the difference on the interest rates in Mexico and U.S. The annual rates are 6% and 3% in U.S. and Mexico, respectively. However, at the end of the year the spot rate becomes MXN19/$. Calculate the profit or loss of the trader if the trader starts with either $500,000 or its equivalent of MXN10,000,000 a) A loss of $230,000 b) A loss of MXN230,000 Oc) A profit of $230,000 d) A profit of MXN230,000