Today British pounds spot rate is $1.70. Kurnick Co. has no money to invest, but it could borrow money to invest. It has been approved by a bank to borrow either 1 million dollars or 1 million pounds for one year. It can borrow dollars at 5.5% or Briitish pounds at 4.5% for one year. It can invest in a risk-free dollar deposit at 5% for one year or a risk-free British pound deposit at 4% for one year. Kurnick uses todays spot rate as its best guess of the spot rate one year from now. Determine the expected profit or loss (in dollars) if Kurnick Co. executes a carry trade for one year.