North Bank has been borrowing in the U.S. markets and lending abroad, thereby incurring foreign exchange risk. In a recent transaction, it issued a one-year $1.75 million CD at 4 percent and is planning to fund a loan in British pounds at 6 percent for a 2 percent expected spread. The spot rate of U.S. dollars for British pounds is $1.450/1.

However, new information now indicates that the British pound will appreciate such that the spot rate of U.S. dollars for British pounds is $1.43/1 by year-end. The net income at year end after receiving cash flow from the loan and paying off the CD is ________dollars