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How much is your arbitrage profit in Euros at expiration, if you know that the current exchange rate is Euro 1.2 / GBP, the 60-day

How much is your arbitrage profit in Euros at expiration, if you know that the current exchange rate is Euro 1.2 / GBP, the 60-day forward rate is Euro 1.12 /GBP, the risk free rate in Europe is 2% and the risk free rate in the UK is 4%? Make your calculation so that the spot transaction is for GBP 500,000.

Please provide your arbitrage profit in Euros rounded to two decimals.

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