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Christoph Hoffeman of RiverRock Capital believes the Swiss franc (CHF) will appreciate versus the U.S. dollar in the coming 3-month period. He has USD 398165

Christoph Hoffeman of RiverRock Capital believes the Swiss franc (CHF) will appreciate versus the U.S. dollar in the coming 3-month period. He has USD 398165 to invest. The current spot rate is USD 0.5820 = CHF1.00, the 3-month forward rate is USD 0.5640 = CHF1.00. He expects the spot rates to reach USD 0.6250 = CHF1.00 in three months. If he enters into a forward contract and his projections are true, how much profit can he make? Round to the nearest dollar/CHF.

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