Suppose that the current EUR/GBP rate is 0.6665 and the one-year forward exchange rate is 0.6715. The one-year interest rate is 1.1% in euros and 3.1% in pounds. You can borrow at most 1,000,000 or the equivalent pound amount. Suppose you are a Euro-based investor. Determine the profit/loss (in EUR, no cents) if you borrow locally and invest in pounds