Goldman Sachs expects the Euro to appreciate from $1.25/ (todays spot rate) to $1.50/ sixty days from today. Goldman Sachs can borrow $1 million at an annualized interest rate of 6% or 1 million at an annualized interest rate of 4%. Goldman Sachs can invest (lend) dollars at an annualized interest rate of 5% or euros at an annualized interest rate of 3%. Determine the expected profit or loss (in dollars) if Goldman Sachs pursues a speculation strategy to capitalize on the expected appreciation of the euro. Assume 360 days in a year.