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PPM Co. is a U.S. commercial real estate firm that executes a carry trade in which it borrows British pounds sterling (where interest rates are presently low) and invests in euros (where interest rates are presently high). PPM borrows 600,000 British pounds. It will pay 0.5% on its pounds borrowed for the next month and will earn 1% on funds invested in euros. Assume that the euro's spot rate is $1.20 and that the British pound's spot rate is $1.80. PPM uses today's spot rate as its best guess of the spot rate one month from now. PPM's expected profits from its carry trade can be estimated as Select one: a. $5,400.00 b. $1,083.33 c. $3,521.25 d. $2,315.00 e. $4,824.60