Hey I was wondering if someone who really undersrands arbitages and currency forex could help me with this question, and walk me through the steps on the below question.

I am struggling on this one...any help would be huge!

Thanks

You are able to borrow either $1,000,000 or 1,000,000 euros. Given the wing information s there a n arbitrage opportunty follow f yes, do you want to buy or se euros forward at the quoted forward rate? What is your profit from this strategy? The following rates are annualized (365 day year) current spot rate of the euro $1.27 USD/euro 180-day forward rate for the euro $1.22 USD/euro 180 day interest rate in the U.S 4.00% borrowing/lending rates are considered the same 180 day interest rate in the eurozone 8.00% IRP equivalent expected forward rate 1.247 Strategy: Explain the strategy, step by step, including the final profit earned from this strategy