Use the data below to answer the three questions that follow it. $/ (USD/GBP) - Sport Rate is 1.2360 $/ (USD/GBP) - 180-day forward rate is 1.2300 $ interest rates are 0.25% (one quarter of a percent or 25 basis points) (GBP) interest rates are 1.00%

If you could borrow either 10,000,000 or $ 10,000,000 how much profit could you make from a covered interest arbitrage? Be sure to state your answer in terms of USD or GPB.