The spot exchange rate is $1.10 per . One year ahead forward rate is

$1.15 per . If the interest rate in dollars is 4% and the interest rate in euros is

3%. If an investor borrows $100 and invests at the euro denominated interest rate

She locks in the one year ahead conversion rate with a forward contract.

What is her profit from this strategy?

Group of answer choices

$3.68

$5.52

$2.23

$4.12