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Currently, the spot exchange rate is $ 1 . 5 2 and the three - month forward exchange rate is $ 1 . 5 4

Currently, the spot exchange rate is $1.52 and the three-month forward exchange rate is $1.54. The three-month interest rate is 5.84% per annum in the U.S. and 5.84% per annum in the U.K. Assume that you can borrow as much as $1,500,000 or 1,000,000. Your final answer should be in dollars.
If the IRP is not holding, determine the arbitrage profit. Otherwise input your answer as 0 PS: Please input your answer without any currency information.
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