Currently, the spot exchange rate is $$0\mathrm{.}65$ per A$ $($Australian dollar$)$ and the one$-$year forward exchange rate is $$0\mathrm{.}61$ per A$$.$ One$-$year interest is $3\mathrm{.}5\%$ in the United States and $4\mathrm{.}2\%$ in Australia.

If you check, you'll see that IRP is not holding.$$Assuming that you may borrow up to $$1,000,000$ or A$$1,538,462($which is equivalent to $$1,000,000$ at the current spot rate$),$how much could you achieve in arbitrage profit?