Use the information below to calculate the expected gain or loss on the carry trade strategy for an initial borrowed amount of 1,000,000 (you will have to determine the currency of borrowing). Keep at least two decimals in your calculations but round up or down at the end (enter the final answer without decimals). Current spot rate of New 0.52 Zealand dollar (USD/NZD) Expected future spot rate of New Zealand dollar 0.63 (USD/NZD) in three months Annualized three-month interest rate on NZ dollars 2.17 (%) Annualized three-month interest rate on US dollars 0.86 (%)