The spot exchange rate is 111.55/$, the 180-day forward exchange rate is 107.83/$, the 180-day dollar interest rate is 1.2% per year, and the 180-day yen interest rate is 0.7% per year. Models suggest that spot will remain close to 110.00/$ over the next 180 days. If expectations are correct, then how much profit does investing $5,000,000 (or its yen equivalent) in an uncovered interest arbitrage between US dollars and Japanese yen yield?

$60,597.47 or 6,534,225

+$58,201.14 or +6,402,125

+$190,597.47 or +21,261,148

+$300,757.80 or +35,669,875