Kurnick Co. expects that the pound will depreciate from $1.73 to $1.45 per pound in 85 days. It has no money to invest, but it could borrow money to invest. It has been approved by a bank to borrow either 2.6 million dollars or 2.6 million pounds for one year. It can borrow dollars at annual rate of 6.88% or British pounds at 7.05%. It can invest in a risk-free dollar deposit at annual rate of 4.36% or a risk-free British deposit at 5.71%. Determine the expected profit (in dollars) if Kurnick Co. pursues a strategy to capitalize on the expected depreciation of the pound (round up to a dollar)? Please DONOT compute in the intermediate steps.