Suppose that the annual interest rate is 5.0 percent in the United States and 3.5 percent in euro zone. The spot exchange rate is $1.120/, and the forward exchange rate with one-year maturity is $1.1478/. Assume that an arbitrager can borrow up to $1,000,000. If an astute trader finds an arbitrage opportunity, what is the net cash flow in one year? $10,690 $15,000 $46,207 $21,964