Suppose that in the fixed-income securities market, the current one-year, two-year, and three-year spot interest rates are 7.000%, 7.250%, and 7.500%, respectively. (That is, R^Mrkt_0,1 = 7.000%, R^Mrkt_0,2 = 7.250% , and R^Mrkt_0,3 = 7.500%.) . In addition, in the market, the current two-year forward rate one-year from now (F^0,Mrkt_1,2) is 7.625%. (This is the only forward interest rate available in the market.)

Assume that an arbitrager can borrow or lend exactly $1,000 in the forward interest rate market. They execute an arbitrage strategy such that their net cash flows at time t=0 (Now), at the end of Year 1 (t=1), and at the end of Year 2 (t=2) are all equal to zero. However, they generate a positive net cash flow at the end of Year 3 (t=3). What is the amount of that net cash flow at the end of Year 3 (t = 3)? (4 decimal places required)