Casper Landesten is a foreign exchange trader for a bank in New York. Using the values and assumptions below, he decides to seek the full 4.800% return available in U.S dollars by not covering his forward dollar receipts - an uncovered interest arbitrage (UIA) transaction. Assess this decision.

Arbitrage funds available	$1,000,000
Spot exchange rate (SFr/$)	1.2810
3-month forward rate (SFr/$)	1.2740
Expected spot rate in 90 days (SFr/$)	1.2700
U.S Dollar annual interest rate	4.800%
Swiss franc annual interest rate	3.200%

What is the UIA profit amount in $? Round to the nearest cent.