Suppose that you are the treasurer of IBM with an extra $1,000,000 to invest for six months. You are considering the purchase of U.S. T-bills that yield 1.810 percent over a six-month period. The spot exchange rate is $1.00 = 100, and the six-month forward rate is $1.00 = 110. Alternatively, the six-month interest rate in Japan on an investment of comparable risk is 13 percent. What is your strategy's gross (pre-transaction cost) gains in six months? Ans.: $_________.

A. 91,727.27

B. 9,172.73

C. No profit is possible given the interest rates

D. 917.27