Gemstone National Bank expects that the Singapore dollar will depreciate against the dollar from its spot rate of $.43 to $.42 in 60 days. The following interbank lending and borrowing rates exist:

LendingRateBorrowingRate

U.S. dollar.07.072

Singapore dollar.220.28

Gemstone National Bank considers borrowing 10,600,000 million Singapore dollars in the interbank market and investing the funds in dollars for 60 days. Estimate the profits (or losses) that could be earned from this strategy.