Elam Limited has stocks in GK which the firm expects to hold for a while. Elam's Investment Banker, Logic Limited, asked if they could borrow 30,000 GK shares for three (3) months. GK shares are currently sold at $80 and Elam negotiated a cash collateral of 102 per cent. The market interest rate on the cash collateral is 4 p e rcent. Elam will offer Logic Limited a rebate of3.5 percent. Calculate the combined profits for Elam and Logic Limited.