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suppose a one year US Treasury bill pays 121% and a one year Germany Treasury till pays 326. Currently the spot exchange rate is 1

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suppose a one year US Treasury bill pays 121% and a one year Germany Treasury till pays 326. Currently the spot exchange rate is 1 EUR - 1222 USD and the one year forward exchange rate is 1 EUR - 1256 USD What arbitrage profit can an investor eam on an investment value of USD 1 million? Answer (DO NOT ROUND YOUR CALCULATIONS UNTIL YOU REACH THE FINAL ANSWER ENTER YOUR RESPONSE ROUNDED TO TWO DECIMAL PLACES, AND NO SEPARATOR FOR THOUSANDS)

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