You have the following market data.

• Spot price for the British pound is $1.426 per pound.
• Futures price is $1.107 per pound on a contract that expires in four months.
• U.S. dollar LIBOR for four months is a continously compounded rate of 1.33% per annum.
• British LIBOR for four months is a continuously compounded rate of 3.5% per annum.
• The contract size is 62,500 British pounds.

What is the total net profit if you execute the arbitrage strategy with one futures contract?

Do not round values at intermediate steps in your calculations. Enter your answer in dollars and cents to two decimal places, but omit the $ symbol and commas. For example, enter $1,234.56 as 1234.56 as your answer.