Diamond Bank expects that the Singapore dollar will depreciate against the U.S, doliar from its spot rate of $0.39 to $0.38 in 55 days. The following interbank lending and borrowing rates exist: Diamond Bank considers borrowing 9 milion Singapore dollars in the interbank market and investing the funds in U.S. dollars for 55 days. Estimate the profits (or losses) that could be earned from this strategy. Should Diamond Bank pursue this strategy? Assume 360 days in year for your calculations. Do not round intermediate calculations. Round your answer to the nearest 5 ingapore dollar. Enter your answer as a positive value. This strategy results in a of 55 Therefore, Diamond Bank