Your U.S. bank issues a one-year U.S. CD at 3.02 percent annual interest to finance a C $1.274 million (Canadian dollar) investment in two-year, fixed rate Canadian bonds selling at par and paying 7 percent annually. You expect to liquidate your position in one year. Currently, spot exchange rates are U.S. $0.78493 per Canadian dollar. If in one year there is no change to either interest rates or exchange rates, what is the end-of-year profit or loss for the bank (in USD)? (Hint: Annual interest is paid on both the Canadian bonds and the CD on the date of liquidation in exactly one year.)