QUESTION 6 Carry Trade 2017 2018 2019 2020 6.53 6.70 4.91 5.94 is(%) 6.50 6.00 2.44 1.45 SAUD/USD 2.2599 2.2015 2.1117 2.1231 One-year Forward Ratc 2.3443 2.2748 2.2546 2.2052 Please type your answers as a number to decimal place in boxes below. For example, if your answer is AUDI 2345.67, please enter 12346. Suppose you are a US investor and you conduct the following transactions. You borrow $1,000,000 at the start of each year and invest in AUD for one year, then you convert back to USD at the end of that year. One-year interest rates, the exchange rate between AUD and USD, and one-year forward rates are provided above for the years 2017 to 2020. One-year interest rates in Australia and the US are on January 1 cach year, and the exchange rate and forward rate are the amounts of AUD per USD . December 31 cach year. What is your maximum transaction USD profit in 2020