Bank XYZ has 10 million British pounds () in one-year assets and 8 million in one-year liabilities. In addition, it has one-year liabilities of 4 million euros (). Assets are earning 8 percent and both liabilities are being paid at a rate of 8 percent. All interest and principal will be paid at the end of the year. If the year-end spot exchange rate for the British pound is $1.50/ and the liabilities pay 8 percent, what is the maximum that the can appreciate and the bank still maintain a zero profit? Show all your work and discuss your results