James Clark is a foreign exchange trader with Citibank. He notices the following quotes.

Spot exchange rate SF1.2051/$

One-year forward exchange rate SF1.1922/$

One-year $ interest rate 2.5% per year

One-year SF interest rate 2.0% per year

Assuming that James Clark is authorized to work with $1,000,000 or SF 1,205,100; compute the arbitrage profit?

a.SF17,243.1

b. $6,036.74

c. SF7,197

d. $31,812.66