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Jasper Pernik is a currency speculator who enjoys betting on changes in the foreign currency exchange market. Currently the spot price for the Japanese yen

Jasper Pernik is a currency speculator who enjoys "betting" on changes in the foreign currency exchange market. Currently the spot price for the Japanese yen is 130/$ and the 6-month forward rate is 130/$. Jasper thinks the yen will move to 127/$ in the next six months. If Jasper buys $99,000 worth of yen at today's spot price and sells within the next six months at 127/$, he will earn a profit of: Profit = $

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