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8. (15 points) Assume the following information regarding U.S. and European annualized interest rates: Currency...

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8. (15 points) Assume the following information regarding U.S. and European annualized interest rates: Currency Lending Rate Borrowing Rate U.S. Dollar ($) 6.73% 7.20% Euro () 6.80% 7.28% Trainor Bank can borrow either $20 million or 20 million. Thlturrent spot rate of the euro is $1.13. Furthermore, Trainor Bank expects the spot rate of the euro to be $1.10 in 90 days. What is Trainor Bank's dollar profit from speculating if the spot rate of the euro is in fact $1.10 in 90 days

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